Shiba Inu prices plunged 9% as this chain-moving Dogecoin derivative surged toward $11 million.

Shiba Inu prices have plummeted 9% in the last 24 hours. Traded for $0.0000248 As of 7:15 AM EST, trading volume surged 19.9% ​​to $830 million.

Shiba Inu Prices Ready for Another Bullish Momentum

Shiba Inu price is still within a bullish pennant pattern after a strong surge above a long-term sideways channel. This pennant suggests that the strong trend in Shiba Inu prices is likely to continue.

The bulls pushed SHIB to the upper boundary of the pennant, indicating a bounce from the lower trend line.

SHIBUSDT analysis. Source: Tradingview.com

It seems that the Shiba Inu has now reached a critical moment. It was trending upward towards the 50-day SMA, but is now facing a significant change away from the 50-day SMA. These changes indicate that SHIB’s momentum is slowing, fitting into a larger pattern of decreasing strength across cryptocurrency markets.

Market uncertainty is also evident in the relative strength index (RSI), which hovers around the median value of 50. This usually represents a neutral state. RSI reflects some of the current market indecision. As momentum increases, RSI is expected to enter overbought territory, indicating strong buying pressure.

Shiba Inu price bull could push price above pennant

If SHIB rebounds and exceeds its 50-day simple moving average (SMA), this could signal an opportunity for bulls to target higher resistance levels. The initial hurdle is the previous high at the $0.00003 level.

After bouncing off the lower trendline of the pennant pattern, the price approached the upper trendline as bullish investors targeted the all-time high of $0.00004825.

SHIB’s struggle to break above the 50 SMA reflects overall market conditions, with a lack of buying momentum across a variety of assets. SHIB’s current support level is $0.000021, which serves as an immediate profit.

A fall below this point could find potential support near the bottom of the pennant at $0.000012, indicating further decline.

A promising alternative

With SHIB prices plummeting, investors are still flocking. dozer bus It has already held a meme coin pre-sale that has raised over $10.88 million.

Dogeverse, inspired by Dogecoin, is the latest addition to the canine-themed cryptocurrency space. Despite its connection to the largest meme coin by market capitalization, Dogeverse stands out as the first cross-chain token in the cryptocurrency space, which is interesting in its own right.

doggers It operates on six blockchain networks: Polygon, Ethereum, BNB Chain, Avalanche, Solana, and Layer 2 Base. This allows token holders to transfer value seamlessly across multiple networks.

The team carefully selected these chains as they represent the most active networks in the cryptocurrency market. This means that DOGEVERSE holders can easily participate in a variety of decentralized finance (DeFi) protocols.

DOGEVERSE has built-in Staking Options This means that token swaps are unnecessary on the Ethereum blockchain and investors can enjoy 102% APY.

let’s go! 🚀#DOGEVERSE More than $10 million raised! 💰

Another amazing milestone has begun! ✅

join #Cosmo Find out about his multichain adventure! 🌌🐕 pic.twitter.com/wNIPuHhplr

— DogeVerse (@The_DogeVerse) April 24, 2024

The current price of Dogeverse is $0.000302. A price increase is expected within two days, so those interested should act quickly to get the best deal.

You can participate in pre-sale, Buy DOGEVERSE through the project website here using ETH, USDT or bank card.

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Dogeverse – Multichain Meme Coin

• Early access presale is live now.
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