Shiba Inu Price Prediction: SHIB Soars 57% in One Week as Traders Flock to This Rival Meme Coin for 1000X Profits

adminMarch 11, 2024

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Last week, Shiba Inu prices soared by more than 57%. Traded for $0.00003498 As of 7:40 PM ET, trading volume had fallen 46% to $2.57 billion.

While SHIB is down 5.5% in the past 24 hours, prominent cryptocurrency analyst Ali Martinez told X’s 51,000 followers that the token is likely to surge 40%, pointing out a symmetrical triangle pattern on the 4-hour chart.

#ShibaInu It forms a symmetrical triangle on the 4-hour chart. A sustained close above the $0.000038 resistance line could trigger a 40% bullish breakout. $SHIB Towards $0.000052.
Watch out for $0.000033 as losing this support level will invalidate your bullish outlook. pic.twitter.com/mr01I6xIry
— Ali (@ali_charts) March 9, 2024

Martinez suggests that if the price holds above $0.000038, it could surge to around $0.000052. However, he also warned that SHIB’s bullish momentum could reverse if it falls below the $0.000033 support level.

Shiba Inu price is primed for further bullish momentum.

Shiba Inu Price

SHIBUSDT Analysis by Tradingview

Shiba Inu prices are experiencing a gradual upward trend after experiencing widespread consolidation. During this time, support was formed at $0.00001030, which helped the bulls push the price higher.

However, when the price reached the $0.00004512 level, the bulls encountered resistance, which resulted in the price falling to $0.00002853 under pressure from the bears. This formation creates an ascending symmetrical triangle, continuing the bullish trend.

The bulls show resilience and stay within the lower border of the triangle, pushing the price higher. They are consolidating strength around the $0.00003305 support level, aiming to start a bullish rally above the triangle.

The price is currently trading above the 50-day and 200-day simple moving averages (SMAs), which provide support. The moving average crossover of $0.00001040 confirms the overall bullish sentiment towards the Shiba Inu price.

The Relative Strength Index (RSI) also suggests a near-term downtrend below 50, with the mid-level currently at 46. A bounce from this level would push RSI above the neutral level of 50, indicating strong buying pressure on Shiba Inu prices. .

Shiba Inu price bull prepares to rally above symmetrical triangle

The bulls are gearing up for another bull rally on the symmetrical triangle. The support area at $0.00002863 and the golden cross at $0.00001040 support further upside potential. Increasing momentum could lead to a breach above this level, pushing SHIB to new highs of $0.00006142 over the next few weeks.

Conversely, bears can also take advantage of a downward RSI trend to apply downward pressure. In this scenario, bulls may have to seek refuge in the $0.00002216 support zone.

As SHIB price bulls prepare for another rally, traders are flocking to the new Sponge V2 meme coin in search of 1000X profits.

Its predecessor, Sponge V1, soared 100x during last year’s bear market, and Sponge V2 aims to make this even better with the latest feature-packed 2.0 version of the token.

SPONGEV2: Next Generation 1000X ROI

Sponge V2 It represents the evolution of the famous SPONGE token, which has skyrocketed based on its current price. 6,596% since launch.

I missed you #SpongeV2 And, what about? 🧽︎
your $sponge today! 🚀#memecoin #web3 #AltSeason #Cryptocurrency pic.twitter.com/1mkn5zjEvA
— $SPONGE (@spongeoneth) March 4, 2024

The SPONGE team plans to leverage the token’s previous performance by implementing various modifications to the viral meme coin ecosystem.

New from SpongeV2 Money making racing game It is available in paid and free versions and involves players competing for rankings on a global leaderboard. Rewards earned through racing are distributed as SpongeV2 tokens.

🧽 Ride it $sponge tide! 🌊LFG 🚀#memecoin #AltGem #Cryptocurrency #100x pic.twitter.com/2PkqBon0tF
— $SPONGE (@spongeoneth) March 6, 2024

Buy SpongeV2 now and earn 503% APY with staking

Investors who acquire SpongeV2 tokens can now also earn passive income. By staking $SPONGE Prior to the claim date, token holders can enjoy Annual Percentage Yields (APY) of up to 503% on Polygon and 178% on Ethereum.

The Polygon version of the token was launched last month following a malicious attack on the token’s liquidity pool. As a measure to prevent future attacks, the Polygon version offers greater security, efficiency, speed and affordability.

📣 Caution, #Sponger!
Here is some important information to remember: $sponge V2!$sponge V1 has been officially discontinued and V2 has been released. #polygon! 🔥
Learn more about token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024

With nearly $35 million worth of tokens already staked and bridged on Sponge V2, Crypto YouTuber Jacob Bury considers it one of the top five cryptocurrencies to invest in right now and says it has the potential to rise 1000x once additional listings are launched. .