Shiba inu's SHIB price chart - is SHIB still one of the best meme coins to buy?

Shiba Inu (SHIB) has been one of the best meme coins to buy in recent weeks, thanks to the impending release of its Shibarium layer-two scaling network. The project, which aims to improve the crypto’s scalability and ease of use, has generated a lot of excitement among investors and developers alike.

As a result of this hype, the Shiba Inu price is up by 38% YTD, currently trading at $0.0000112–but the coin is down by 6% for the day so far as of writing.

SHIB’s price has stalled over the last several days, however, and even posted a 6.67% decrease yesterday, leading investors and traders to question whether its 2023 rally is finished or whether there will be another surge in the price soon.

With SHIB showing signs of retracement, investors are looking to other meme coins to spread out their risk and capture potential gains as funds fly out of Shiba Inu.

One such coin that is looking like one of the best meme coins to buy today, with potential for further gains, is TAMA, the native token for Tamadoge. With real utility, a solid team, and strong community, TAMA is definitely a contender as a good meme coin investment at the moment.

Shiba Inu (SHIB) Price Technical Analysis and Price Prediction: Best Meme Coin to Buy?

Before going into the TAMA coin, we’ll take a quick look at SHIB to get a better sense of whether it’s a good investment at the moment.

The 20-day, 50-day, and 100-day EMAs are all trending upward with SHIB’s price retesting the 200-day EMA as support. This is an indication the short to long-term bias for SHIB could still be bullish.

The Relative Strength Index (RSI) of Shiba Inu is currently at a healthy 64.54, which means the coin isn’t overbought or oversold. This implies that the cryptocurrency has reached a stable level and can potentially continue to increase in value going forward, though this is by no means assured given its already rapid price increase.

Despite the bullish crossover, signs of potential bearishness are present in the MACD indicator. Yesterday’s red candle signaled a decreasing gap between the MACD and signal line, forewarning traders to take caution.

Yesterday’s Shiba Inu price closed at $0.00001119, experiencing a bearish 6.67% price movement. However, today the coin is up by 0.63%, trading at $0.00001126 as of writing.

Immediate resistance lies between $0.00001160 to $0.00001174 in confluence with the fib 0.236 level at $0.00001172. While immediate support rests in the Fibonacci retracement level of .038 in confluence with the previous support level between $0.00001083 to $0.00001095.

Overall, the indicators suggest that this cryptocurrency could continue its rally in the future if the overall crypto market remains bullish, but it is still advised that traders remain vigilant and keep an eye on whether or not these potential supports can hold their ground against the price volatility ahead.

Why Tamadoge’s TAMA is One of the Best Meme Coins to Buy vs. Shiba Inu (SHIB)

shiba inu (SHIB) vs Tamadoge - Best meme coin to buy?

Tamadoge, another meme coin that has seen a lot of action in the past year, is currently standing out as a stronger investment option compared to Shiba Inu (SHIB) and some of the other best meme coins to buy due to its utility and NFT-based product offerings–as well as its relative lack of a price pump so far this year.

Tamadoge has five Web3 games in beta testing in its Games Arcade, which sets it apart from other meme coins that lack utility. TAMA is currently ranked eighth by market cap in the Coinmarketcap meme coin category, so has a lot of room for growth given its promising fundamentals.

Over the past seven days, Tamadoge has been one of the top performers with a 33% jump to $0.01846. Following close behind are Baby Doge Coin and FLOKI, increasing by 13% and 22%, respectively, to $0.00001181 and $0.08842. Meanwhile, market leader Dogecoin saw only a modest growth of 5%.

This week, the first game from Tamadoge–Super Doge–will leave beta testing according to a Telegram channel and Twitter post. Ultimately, the success of any crypto is based on its product quality and in that regard, Tamadoge has a lot going for it.

This news of Super Doge’s release is no doubt partly responsible for the increased demand for TAMA tokens. Beta testers have declared it to be one of the most skill-intensive games currently in testing and data shows that users are highly engaged with it.

The Tamadoge Arcade team will also be releasing other games soon including Rocket Doge, To The Moon, Tama Blast, and Tamadoge Run–each offering up a unique gaming experience.

With TAMA tokens currently trading at 90% off their all time high of $0.196 on October 5, the upside potential for investors is a potential 10x in the near future–making TAMA one of the best meme coins to buy presently.

Of course, once their first game is released and tangible results are visible to evaluate, it will be easier to assess the true investing potential of this project.

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