Is it a good time to invest in SHIB as meme coins gain popularity and Shiba Inu’s price is predicted to rise?
There is an image of a Shiba Inu dog at the beginning of the article. The article discusses the current state of the cryptocurrency Shiba Inu (SHIB), which is the second-largest meme coin by market capitalization. The price of SHIB has been hovering around $0.0000087 with the 21-Day Moving Average (DMA) acting as a magnet. If SHIB can close above the 21DMA and recent downtrend, it could potentially retest recent highs in the $0.0000092 area or even move towards resistance in the $0.0000097 area. However, if SHIB fails to convincingly get back above its 21DMA, price predictions are likely to remain bearish.
The article goes on to explain that the longer-term technical outlook continues to look concerning for the SHIB price due to the breakout below the March to April uptrend in early May and the recent “death cross” where the 50DMA crossed back under the 200DMA. Technicians predict that SHIB will retest its late 2023 lows under the $0.000008 level.
The article suggests that diversifying crypto holdings to an area that is currently in fashion and performing well, such as cryptocurrencies with an AI-linked use case, might be a good alternative to consider. The article mentions yPredict’s YPRED token as an example, which is building a revolutionary new AI-powered trading signals platform that plans to hand market participants an “unbeatable edge.” The article also mentions that yPredict’s presale has been generating a lot of buzz, and interested investors should move quickly to secure tokens while they are still cheap at $0.09 each.
The YPRED token is set to be listed on major cryptocurrency exchanges later this year at a price of $0.12.
- Price prediction optimistic ahead of token unlock
- Fantom to pay 15% of token fees to select projects
- Environmental impact of AI Sustainable solutions
This means that investors who buy now will have a paper gain of around 33.3% when the YPRED initial coin offering (ICO) occurs.
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