Amidst a languid atmosphere in the broader crypto market, meme coins are flourishing, with Shiba Inu (SHIB) standing tall as the sole crypto in the top 20 witnessing gains over the prior 24 hours. The currency has made the most of an impressive influx, with over $150 million flying into trading volumes within this period.
SHIB now dances around the mid-point of its $0.0000082-88 weekend gamut. The key here is that SHIB managed to bulldoze past a critical zone that once shackled it as resistance in the low $0.000008s, as well as its 100-Day Moving Average – both feats paving the way to the highest level witnessed since early June. These events hint at a bullish run for the coin, given it had recently evolved an ascending triangle.
This robust health is partly attributed to heavyweights who seem to be at the forefront of this positive price impact. In a recent tweet by the on-chain analytics firm, Santiment, wallets with quantities ranging between 10 million and 100 billion SHIB tokens have amassed $8 million of the coin in the preceding eight weeks. This suggests an unwavering eagerness for the currency with these whales. Could this continue to fuel the fire that propels SHIB further up the ladder?
The immediate outlook for SHIB seems bright. This is considering recent trends, allied with a rally in similar meme coins like Dogecoin and a favourable technical analysis, all of which bolsters the bullish hypothesis further. If SHIB continues its relentless assault and clear resistance levels in the low $0.000008s, there will be a golden opportunity for a swift dash to the late-May zenith at $0.0000092 and subsequently the March/April nadirs, alongside the 200DMA circling around an integral psychological touchstone – the $0.000010 mark.
While SHIB’s exemplary rise captures attention, another pioneer forging its path in the field is yPredict (YPRED), an AI-powered cryptocurrency trading and market intelligence platform. This path-breaker is amassing attention with a first-of-its-kind, institutional-grade crypto price prediction system armed with deep in-house data analysis. The exciting part about yPredict’s crypto price prediction is that it is free and accessible to all users. Still, the company offers more than just price predictions, offering a state-of-the-art crypto research and trading platform powered by predictive models and insights from top AI developers and quants.
yPredict is banking on AI’s rising prominence in the crypto industry, with the expectation that they will attract substantial interest and user base. Therefore, it isn’t a surprise when yPredict’s native YPRED token is tipped as one of the next best-performing coins. Amid the buzz surrounding YPRED, investors need to remain alert to seize this opportunity before it runs out, as the presale is on the verge of selling out.
Source: Cryptonews
