Shiba Inu SHIB’s Recent Price Performance Sparks Investor Interest
Shiba Inu’s recent price performance has caught the attention of investors. The asset is currently trading at $0.00000823, experiencing a 2% increase in the past 24 hours. This indicates a rebound from its long-term decline, which is good news for traders in the community. Despite a 16.3% decline over the past 14 days, the recent gains suggest a possible change in the narrative before September. The price has been pumping, with a 5% increase since August 17, and the trading volume has also risen by over 45%, indicating growing investor interest.
BitMEX’s Inclusion of SHIB On Perpetual Listings Could Spark Investor Interest
BitMEX, a cryptocurrency trading platform, has added SHIB to its perpetual contract listings. These contracts have no expiration date, allowing SHIB traders to hold long-term positions until they choose to close them. Although this concept carries risks, it offers leverage for investors with diamond hands who prefer to keep profits. The inclusion comes with additional benefits, such as operating with a Bitcoin multiplier for potential gains or losses and as a quanto contract for betting on exchange rates. The community has responded positively to this news, leading to a modest price increase shortly after the announcement.
Shibarium’s Successful Strides Boost SHIB’s Market Outlook and Price
Shibarium, a development within the SHIB ecosystem, has the potential to drive SHIB’s price. The lead SHIB developer, Shytoshi Kusama, officially announced the revival of Shibarium, resulting in 35,000 new wallets and an overall user count exceeding 100,000 in a single day. The adoption of Shibarium has seen significant growth, with over 300,000 wallets and 500,000 transactions in the past few days. Despite differing opinions on the direct impact of Shibarium on SHIB’s price performance, the short- and long-term movements of SHIB remain interesting to watch.
SHIB’s Daily Chart Shows Mixed Trend in the Short Term
Examining SHIB’s daily chart reveals that it is trading above the 100-day Moving Average (MA) but below the 50-day MA. While this suggests a mixed trend in the short term, the price being above the 100-day MA indicates a positive overall trend over a more extended period. However, the coin’s price has been facing downward pressure in the short term, as indicated by being below the 50-day MA. The fading bearish momentum and a moderate Relative Strength Index (RSI) suggest potential buyers entering the market, potentially driving up prices. Combining this data with other indicators and market analysis can provide a clearer picture of potential price trends.
Super Sonik Coin Emerges as a Rapidly Growing Meme Coin
Super Sonik coin has shown rapid growth and promising signs of making a significant impact in the crypto market. It aims to become the quickest coin to reach a $100 million market cap from scratch, attracting attention from investors and traders. Super Sonik introduces an attractive staking scheme and a promising presale opportunity, allocating 40% of its total token supply to staking rewards. In just two weeks, the Sonik Coin presale has raised over $760,000, demonstrating impressive speed. With only five days left in the presale, the coin’s prospects after launch seem promising, creating a sense of “fear of missing out” (FOMO) among potential investors.
Hot Take
Shiba Inu SHIB’s recent price rebound and inclusion on BitMEX’s perpetual contract listings, along with Shibarium’s revival, indicate positive developments for the asset. While the short-term trend may be mixed, the overall outlook remains optimistic. Additionally, the emergence of Super Sonik coin as a rapidly growing meme coin presents an exciting opportunity for investors seeking quick returns. Both SHIB and Super Sonik coin are worth keeping an eye on as they continue to make waves in the crypto market.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
