Trent Rhode
The popular meme coin Shiba Inu has had an exciting run in 2022. After launching in August 2020, this alternative currency quickly captured the public’s attention and was one of the most watched cryptocurrencies on Binance.
As its market cap skyrocketed last October, some lucky holders were fortunate enough to book significant gains from the coin. Unfortunately, that success didn’t last as the Federal Reserve’s hawkish policy stance later caused a sharp decline in prices.
Shiba Inu Price Prediction and Technical Analysis
Last Friday, Shiba Inu (SHIB) plummeted by 7.67%, but it appears that the cryptocurrency has managed to make an impressive recovery over the weekend.
SHIB exceeded Friday’s intra-day high of $0.00000901 yesterday and attempted to breach the daily EMA 20 with a high of $0.00000910, but eventually closed at $0.00000855 with a daily gain of 3.14%. As of writing, the cryptocurrency has lost some of its momentum, with Shiba Inu’s price at $0.0000084 and down by 1.25% for the day currently.
Exponential Moving Averages (EMA)
The prices are still trading below the short-term, mid-term, and long-term exponential moving averages (EMAs) of EMA 20, EMA 50, and EMA 100. This indicates that the short to long-term bias for this coin is still bearish. Traders are advised to trade intra-day and set aggressive stops to protect their capital if they wish to take positions.
Relative Strength Index (RSI)
Despite being rejected from the RSI 50 line two weeks ago, the meme-coin seems to have some momentum once more. After bouncing from RSI 32.32 two days ago, it has now shot up to 43.63 as of this writing — indicating that there may be yet another try at breaking through RSI 50. Traders must remain vigilant and watch out for any potential rejections in this area.
Moving Average Convergence Divergence (MACD)
Though in a bearish crossover, the MACD line has been approaching the signal line for the past two days as observed from the declining separation between them illustrated by the histogram. This indicates that a bullish crossover may soon happen if wider market conditions allow.
Price Action, Support, and Resistances
Shiba Inu has been trading in a range for the past month with the area of $0.0000080 proving to be significant support and the area of $0.00000936 to $0.00000947 as a resistance.
If the price continues to move to the upside, traders should watch for a possible daily EMA 20 rejection at $0.00000894. It if breaks out and moves further, The area of $0.00000936 to $0.00000947 is the next significant resistance.
Shiba Inu (SHIB) Fundamental Analysis
The official Twitter account of the Shiba Inu cryptocurrency recently posted a link to a website with a countdown timer, causing speculation among its fan community.
A special https://t.co/pl0HAXgkAE countdown has begun. Please allow DNS to propagate correctly, in case the website is loading blank for some users, try reloading again in a few minutes.
— Shib (@Shibtoken) December 18, 2022
The image on the site of the Shiba Inu dog peering out a window into the darkness served to further intrigue fans and leave them guessing as to what the developers behind the meme cryptocurrency could have in store. Many remain skeptical, pointing to possible attempts by developers to distract SHIB holders by announcing new hires and partnerships as well as delaying the launch of Shibarium’s layer-2 solution. It looks like only time will tell what surprises this mysterious countdown holds for the SHIB fan base.
Shiba Inu Alternative Meme coin and Other Altcoins to Invest In
There are many factors to consider before investing in altcoins. To make life simpler for you, we’ve gathered three coins that present exceptional ROI potential, competent developers, and sound fundamentals – including another memecoin with actual utility that is poised to explode in 2023.
Tamadoge (TAMA)
TAMA is the gateway token to the Tamadoge ecosystem: a P2E (Play to Earn) gaming platform and metaverse that allows players to mint NFT based virtual “Tamadoge” pets, breed them, level them up, and do battle with other players in the Tamaverse. The native currency TAMA can be used to buy and trade virtual pets, boosts, accessories, and more within the in-game market.
Since Tamadoge pets are NFTs, layers can truly own them. They can buy, sell, and trade their pets as they please. The pet’s value is determined by how many TAMA tokens it has been swapped for at last trade.
In just eight weeks, Tamadoge’s presale raised over $19 million dollars – an unprecedented amount that set it up as a real contender in the memecoin genre.
Recently, P2E games for Tamadoge were announced with more expected to be revealed next year. These games range from arcade-style to AR-based content coming through Q4 2023. By then, players should be able to access augmented reality elements from the Tamaverse in their real world environment.
Dash 2 Trade (D2T)
The crypto community is looking forward to the launch of Dash 2 Trade, an innovative analytics and trading platform that promises to change the way crypto investors invest and traders trade.
As a response to the FTX scandal, Dash 2 Trade’s tools that can help protect people from crypto scams have received more interest. The team has announced an earlier launch for their platform and a shorter token presale as a result, with the presale wrapping up in just 19 days.
The platform will offer a range of features, including buy and sell signals, analysis of social sentiment, on-chain analysis for trending coins, and backtesting tools for trading strategies. Also available will be scorecards for presale cryptos so investors can decide which ones are worth considering.
Confirmed Exchange Listings
After the presale is over, $D2T will be listed at:
✅ @Uniswap
✅ @LBank_Exchange
✅ @BitMartExchange
✅ @ChangellyProGet in before the presale ends – buy $D2T now ⬇️https://t.co/ExvBBjt7vw pic.twitter.com/vK70So611v
— Dash 2 Trade (@dash2_trade) December 18, 2022
Since most of Dash 2 Trade’s functions will require D2T tokens, there is expected to be a great demand for the token. So far, over $10.2 million has been raised through presales and 77% of tokens have sold.
FightOut (FGHT)
The FightOut project is among the most anticipated crypto projects in 2023, and its FGHT token can now be bought during its presale. What makes FightOut so unique is that it’s a move-to-earn (M2E) project will be associated with a physical gym network—and users will get physical and virtual rewards for increasing their fitness levels. The app includes access to personalized workouts with videos made by top coaches.
These workouts don’t just help people achieve their dream body; they’re also helpful for training and prevention of injuries related to boxing and MMA. The app inspires users to build strength, cardio, endurance, and technique through an online community tied to avatars that represent users’ real world progress.
The FightOut app has a virtual rewards system where users are rewarded with “REPS” for completing workouts. These REPS can be redeemed within the app to buy training equipment, coaching sessions, FightOut merchandise and other things. The avatar (a soulbound NFT) gets fit along with users; and can be used in the FightOut metaverse to join virtual fights and compete against others in leagues or tournaments.
The FGHT cryptocurrency for FightOut is used to buy subscriptions, enter virtual tournaments, as well as purchase REPS points. The more REPS points an athlete has, the greater their earning potential will be in future tournaments.
FightOut is running its token presale after raising $1 million in its private sale in just 7 days, and over $2.1 million so far in the presale overall. 60% of 10 billion FGHT tokens will be released during the presale, which could raise up to $100 million for FightOut. Early investors can get up to a 50% bonus on their purchase.
Related:
- John Carmack Leaves Meta – What Does This Mean for Mark Zuckerberg’s Metaverse Vision?
- Best Crypto to Buy Today 19th December – TON, FGHT, ZEC, D2T, RUNE, RIA, TARO
- Toncoin Price Forecast – Down 2%, TON Bucks the Trend But Can It Last?
FightOut - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $1M+ Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Trent Rhode.
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