The Shiba Inu (SHIB) coin has seen a 2% increase in price, reaching $0.00002399, while the overall crypto market has gained 0.5% in the last 24 hours. SHIB has also experienced a 5.5% increase in the past week and a 15% increase in the past fortnight, with a 169% increase in the last year. The price chart for SHIB currently shows a bullish pennant pattern, indicating that the coin may be on the verge of a significant rally. The return of meme-stock trader Keith Gill has also contributed to the possibility of a rally.
Analysts are predicting a potential rally for SHIB as the coin has shown strong indicators in the past 24 hours. The relative strength index (RSI) and the 30-day average are both indicating ongoing momentum and buying pressure. The 30-day average has surpassed the 200-day average, which is often a sign of a breakout. Furthermore, resistance and support levels suggest that SHIB may be on the brink of a major move, with analysts speculating that the coin could reach new highs.
The meme token market is gaining momentum, with coins like PEPE also experiencing gains in the past few days. The resurgence of Keith Gill, known as ‘Roaring Kitty,’ has sparked interest in meme coins, leading to expectations of a potential meme token season. SHIB remains one of the strongest meme coins in the market, with recent developments like its privacy-focused layer-three network and successful transaction processing on Shibarium improving its fundamentals. Analysts predict that the Shiba Inu price could reach $0.000030 in the coming months.
While SHIB is considered a safe bet in the meme token category, there are other newer coins with promising fundamentals that could outperform the market. WienerAI (WAI) is an Ethereum-based cryptocurrency raised over $1.8 million in its presale. WienerAI offers an innovative AI-based trading bot that provides trading recommendations and an atomic swap function for seamless trading. The coin has a fixed max supply of 69 billion tokens and allows holders to stake the coin for passive income, incentivizing long-term holding.
WienerAI’s genuine fundamentals and utility as a trading platform set it apart from many meme coins that rely solely on hype and FOMO. Investors can participate in the WAI sale on the official WienerAI website at $0.000707 per token. Once 30% of the total supply is sold, the token will list and potentially see significant growth. It is important to note that cryptocurrency investments are high-risk and this article is provided for informational purposes only and does not constitute investment advice.
