Shibaverse meme coin has been hit hard with a bearish reversal but still remains to be up over 40% over the week. From a technical analysis perspective Shibaverse is now trading in a falling wedge pattern which is a textbook setup for a potential bullish reversal.
Currently, Shibaverse is trading at $0.00545 and hit a high this week of $0.0153 before retracing over a whopping 68% to the downside. According to Coinmarketcap, Shibaverse now has a market capital of $4.4 million which means there could still be more room for growth in 2022.
Will Shibaverse continue to pump?
Shibaverse Meme Coin Price Prediction 2022
Meme coins often come with volatility and Shibaverse is certainly one of them. The last week for Shibaverse has been particularly bullish, but today we have seen the price of Shibaverse flop.
At the time of writing this article Shibaverse is printing green candles within a falling wedge pattern which could potentially breakout to the upside. The technical target upon a successful breakout would yield over 38% and take us back through an imperative resistance level of $0.00594.
Verse/Usd – 4 Hour Time Frame.
Whilst a falling wedge does not usually look too appealing to the eye, this particular trade pattern often results in a breakout through the resistance trendline and could end up with another pump or relief bounce.
Should Shibaverse re-test the $0.00594 resistance level and face rejection, we may see the price chop around the support of $0.00497. If traders recognise value in this particular support range we should see accumulation which will help drive the price of Shibaverse back up.
Verse/Usd – Daily Time Frame.
If Shibaverse can break out of the falling wedge pattern and through the $0.00594 resistance level the next target would be a swing high up to the top of the falling wedge at $0.00924.
On the 2nd September we can see Shibaverse soared in price all the way up to $0.01529 but a heavy amount of selling volume came in around these levels, as reflected by the long wick on top of the green candle.
I think it is quite unlikely that we would see Shibaverse retest the $0.01 price levels for now, especially as we are seeing bearish sentiment across the entire crypto markets.
Shibaverse Video Analysis
It isn’t easy to say what might happen to Shibaverse meme coin over the next few months. Crypto has been rather unpredictable recently and we are still deep within a crypto winter.
Shibaverse has performed very well over the last week but I think the euphoric move might mean that upside potential is now suppressed. I speculate we might see a relief bounce, but I don’t believe we will see any all time highs soon.
I do think the vision behind the project is really amazing though, Shibaverse is a metaverse project which strives to be a decentralized digital world on blockchain. Shibaverse covers everything from staking to NFTs and even allows players to purchase real estate.
Tamadoge Meme Coin – Alternative to Shibaverse
Admit it, meme coins are exciting and the strong communities that form surrounding these particular projects are fun too. There is a new meme coin which will hit the crypto markets later this year known as Tamadoge which screams potential. What makes Tamadoge unique?
Well, Tamadoge is a fully immersive play-to-earn meme coin which is deflationary and also transaction tax free. Similar to Shibaverse, Tamadoge only has a market capital of 2 billion tokens which means that it is possible for the price to reach $1.
Tamadoge is currently in presale phase and has now raised $12,424,092 in as little five weeks during a crypto bear market. Impressive right?
Once the Tamadoge presale has finished (around Q4 2022) it will be deployed on the Uniswap decentralized exchange. Following this, we will see Tamadoge get listed on the Lbank centralized exchange. It is rumoured that there are more CEXs stored in the pipeline for Tamadoge.
Even though Tamadoge is a new coin to hit the markets, it has already been audited by Solid Proof and KYC’d by Coinsniper which ensures that it is fully secure and a rug pull cannot take place.
Meme coins have been a massive trend over the last few weeks and we are yet to see what Tamadoge can deliver to the crypto markets. The last crypto presale we analysed went up in price over 700% once it went public.
Investors who wish to participate in the Tamadoge presale can head over to buy.tamadoge.io and purchase TAMA using Ethereum or USDT by connecting their MetaMask or TrustWallets to the official site.
If you are keen to discover more about Tamadoge, you can head on over to their official site by clicking here.
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