Shiba Inu price is about to start a new bullish move as investor craze returns to office in early 2023. SHIB is currently showing a 6.6% increase in the past 24 hours and only a 16.1% increase on a weekly basis. It is also interesting to note the 19% increase obtained in the last two weeks.
Real-time data indicates that daily volume jumped 18% to reach the $364 million mark, implying that investors are currently focused on accumulating SHIB tokens in anticipation of a fresh bull rally.
In recent weeks, Shiba Inu has risen thanks to its progression to fifteenth place in the ranking of the most important cryptocurrencies in the ecosystem, with an overall market capitalization of $5.3 billion.
Shiba Inu: a positive trend in the days to come?
At the time of writing, Shiba Inu price sits at $0.0000971 as bullish pressure faces the psychological $0.0001 mark. A break above this level could push the SHIB all the way to 0.000012 by the weekend and plot a path towards $0.000014 if the upside momentum continues.
In recent weeks, investors have focused their attention on the altcoin market, especially memecoins such as Dogecoin and Shiba Inu. According to data recently released by WhaleStats, a platform that tracks large crypto transactions, SHIB is once again one of the most used smart contracts among the top 500 whales of the Ethereum ecosystem.
You can also see a resurgence of activity on other smart contracts such as that of Decentraland (MANA), Numeraire (NMR), Fortress (FORT), and Basic Attention (BAT).
And that’s not all, this Friday the Shiba Inu also appeared in the smart contracts most used by the 1,000 most important whales of the Ethereum ecosystem. Shiba Inu was the seventh most used smart contract after WETH, BOBA, NMR, ETH, USDT and USDT. Furthermore, Shiba Inu is the most traded token among the 5,000 largest Ethereum whales.
The eight-hour chart reveals that the buyers are currently dominating the market, especially when looking at the Moving Average Convergence Divergence (MACD) indicator. In addition to this buy signal, given when the MACD (blue line) crossed the signal line (red), the momentum indicator supported a move above the midline (0.00).
Investors placing long positions on the Shiba Inu price may continue to do so after the 50-day exponential moving average (EMA) (red) breaks above the 100-day EMA (blue). The safest bet for long Shiba Inu positions is slightly above $0.00001, which is its immediate resistance level.
The blockchain data overview presented by IntoTheBlock using the In/Out pattern confirms the bullish outlook for the Shiba Inu price, likely until the massive sellers congestion zone at $0.000011 is cleared.
Traders should pay attention because based on the In/Out pattern, the Shiba Inu is not solidly positioned. However, it would not be very prudent to short the SHIB right now, especially given the growing volume of trading.
Shiba Inu burn rate drops by 92%
The circulating supply of the Shiba Inu has decreased significantly since the token burn process was initiated. Recall that more than 410 trillion tokens have been canceled, while 571 trillion remain in circulation, and this despite the fact that 18 trillion tokens have been placed in reserve on various exchanges.
However, the burn rate will increase dramatically with the launch of Shibarium, a new protocol currently still under development. The latter is designed to improve the scalability of the SHIB and could be available in the first quarter of 2023. This is an event to highlight as it could be the trigger for a bullish rally for the Shiba Inu price.
Altcoins to consider to diversify your portfolio
Investors interested in the bullish momentum currently enjoyed by the altcoin market would do well to consider presale projects. The tokens selected below have received special attention as they all have strong fundamentals. However, these pre-sale phases are limited in time and the quotes on the exchange platforms are already scheduled for the next few weeks.
Meta Master (MEMAG)
The ecosystem linked to Meta Masters Guild launches the MEMAG token to bring together a community of gamers and developers who can participate in many projects to earn rewards.
Meta Masters Guild aims to offer a multitude of games for a single community, where each game works independently of the others while being open to all players. The MEMAG token serves as a trading currency between all games and the rest of the ecosystem, providing players and developers with a way to earn rewards based on their contributions.
Currently, three games are available within the Meta Masters Guild ecosystem, with plans to grow this community. Kart Racers is a player versus player oriented car racing game optimized for smartphones. NFT Raid is a turn-based combat game where players select warriors and engage in battles in hostile environments.
Another game, Meta Masters World, focuses on the metaverse and offers players the opportunity to explore a vast virtual world. Investors can purchase MEMAG in an ongoing presale that has already raised $130,000, with the token selling for 0.007 USDT.
Check out the Meta Masters Guild project site
Fight Out will introduce a revolutionary movement-to-earn (M2E) app and gym network in 2023. Using cutting-edge technologies, users can earn rewards for their sports training and compete to challenge other community members to earn REPS Tokens.
These tokens can be used to purchase discounts on Fight Out subscription plans, as well as gadgets and training equipment.
The app and the gyms will generate a dynamic atmosphere for the community, providing its members with the motivation and encouragement needed to progress together in order to achieve sporting goals.
The pre-sale of FightOut is currently underway and has raised over 2.9 million by selling its FGHT token for 1 USDT. Investors can enjoy a 50% bonus when buying FGHT tokens, but this offer is only valid until the presale reaches $5 million.
Click here to visit the official Fight Out website
Tamadoge recently unveiled a beta version of its Arcade Games section, inviting investors to test the various games and send their comments on possible improvements before the official launch. So far, users have spent over 741 hours testing games on the platform, and even more engagement is expected when the final version is released.
Tamadoge is a Dogecoin-oriented game where players can purchase and collect NFTs that represent virtual pets called Tamadoge Pets. These pets can be upgraded to battle other players, where victorious users are rewarded with TAMA Tokens.
After joining the game, users enter the world of TAMA, where they can explore various areas to play, trade Tamadoge Pets, and collect NFT items, all while looking for hidden rewards.
TAMA is the cryptocurrency used within the Tamadoge project, in addition to participating in battles, players can also generate money by selling their NFTs on the exchange platform integrated into the project.
Consult the Tamadoge website by clicking here
Calvaria is one of the best crypto pre-sales going, but investors don’t have much time to participate. The pre-sale of the token has almost already met its financial goals, so it would probably be wise for interested investors to take a position as soon as possible.
The Calvaria: Duels of Eternity game is all about the afterlife theme and is set to shake up the crypto-gaming industry. With great graphics and gameplay, the game is expected to launch in Q2 2023.
The RIA is the project’s native token and will be used to purchase NFT cards and generate a form of passive income through staking, as well as provide governance power to users via Calvaria DAO.
Click here to visit the Calvario website
RobotEra is a new cryptographic project focusing on the theme of the metaverse and trying to create a new interactive virtual world. Users will not only have the opportunity to acquire virtual lands within the project’s metaverse, but will also be able to create their own robots, and all this without any prior knowledge of coding.
The project aims to create a sandbox game based on building planets in an open world. Players will take on the role of a robot and will be able to obtain resources from the planet, manage their territory and develop allied robots.
Community members will be free to create whatever they want in this metaverse, also RobotEra will connect different worlds which will allow the creation of amusement parks, concert spaces and even museums. The RobotEra pre-sale is underway with $707,000 raised and is expected to run for some time to come.
Click here to visit the RobotEra website