In a whirlpool of anticipation and scepticism, both Shiba Inu and Pepe have ascended by a staggering 8% in the last 24 hours, overshadowing the wider crypto market that’s painting shades of red. This occurred in light of the recent disclosures concerning SEC‘s delay in judgment on the Ark Bitcoin ETF.
Renowned analysts are speculating a pattern, referencing statistical trends seen ten to twelve months before the last Bitcoin halving. At that time, Bitcoin staging its dominance peak and altcoin reaching its nadir was observed. If history is to be our guide, then diversifying into altcoins now could be a shrewd move.
Bitcoin halving is projected around the bend in April or May 2024. Given the closer proximity of a potential ‘altcoin season’, meme coins are among the top candidates on the crypto radar. Altstreet Bets have been bullish about the Shiba Inu, envisaging its monetary trajectory to ‘advance considerably’. The crypto community is also abuzz with CryptoGodJohn signaling the eagerly awaited launch of Shibarium, the underlying alloy for Shiba Inu’s continued market reign.
As the market narrative unfolds, whispers have it that long positions are being constructed on Shiba Inu. Interestingly, this cryptocurrency currently garners the highest trend score on CoinMarketCap. Alongside, Pepe, soaring to the second trending crypto spot, is drawing consistent bullish sentiments from traders. Several indications point towards an elevated buying volume and looming price surge.
Intriguingly, new meme coins bearing the ticker $SHIB and $PEPE, independent of their original counterparts, have emerged on Uniswap recently. One such addition is the Shibie Coin, which nears its pre-sale end and has piqued the curiosity of market analysts.
Nonetheless, bear in mind that the crypto universe is filled with both boom and busts. Make sure to tread carefully and do your due diligence. Crypto is a high-risk asset and demands caution; what may seem like a haven of untapped potential one day might flash red at any given moment. While the future might promise radiant gains, it’s equally capable of swallowing all of your invested capital.
Source: Cryptonews
