Shiba Inu Will Never Do As Well As This Meme Coin, And Here’s Why

June 5, 2023 anon Market Analysis
Binance
Shiba Inu Will Never Do As Well As This Meme Coin, And Here's Why
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In the 2023 crypto cycle, low-cap altcoins have soared due to attention-grabbing crypto narratives that have gained massive popularity. Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have seen massive growth in popularity and investment over the years.

However, stability, credibility, and user acceptance are all areas where meme currencies need to catch up. The meme coin community plays an important role in driving the prices of these coins, as PEPE coin mania has faded from the market, the crypto enthusiasts have started to flock towards other promising projects.

Shiba Inu (SHIB) Token: Undervalued Potential And Increased Burn Rate Trigger Market Attention

The meme coin Shiba Inu (SHIB) rose to prominence during the apex of the 2021 bull market. At the time, it led to price increases bolstered by the widespread media coverage it attracted.

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Santiment, a cryptocurrency analysis tool, recently reported that prominent altcoins, including Ripple’s XRP, Cardano (ADA), and Shiba Inu, might be undervalued. The platform claims that the market capitalizations of these alternative cryptocurrencies exceed their realized capitalizations, indicating that they have expansion potential.

According to Shibburn.com, the last 24 hours has seen 4,503,910 SHIB burned, marking a massive 1,222.60% increase in the burn rate. This is great news for SHIB. In the most recent transaction, one wallet burned a whopping 151,946,848 SHIB. In another earlier one, 30,581,998 SHIB were moved to invalid addresses.

The sudden increase in volume of transactions involving SHIB  provides insight into the inner workings of its price action. Infrequent market activity often preceeds abrupt spurts of activity from renowned investors. The price of SHIB has been very stable for the past month, suggesting an accumulation phase. This is evident in the daily chart below.

SHIB Technical Analysis

Based on the overall outlook, the SHIB market favors the downside as overhead pressure continues to build. This could see SHIB drop below the immediate support, which marks the lower boundary of the technical formation at $0.00000831.

The ensuing selling pressure could send Shiba Inu price lower to the support flow at $0.00000782. SHIB could have a chance of a recovery after collecting buy-side liquidity below this level.

This bearish outlook draws support from the down-facing Relative Strength Index (RSI), which suggests a falling momentum. This is also visible in the negative position of the Moving Average Convergence Divergence (MACD) and Awesome Oscillators (AO). As shown in the chart, both indicators were below the mean line.

Shib Inu price
TradingView Chart: SHIB/USDT 1-Day Chart

Conversely, if late or sidelined investors come into play, Shiba Inu price could increase, breaking above the immediate hurdle marked by the upper boundary of the consolidation zone at $0.00000906. Such a move could see SHIB tag the 50-, 100-, and ultimately the 200-day Exponential Moving Average (EMA) at $0.00000927, $0.00000987, and $0.0000105, respectively.

The next challenge for the Shiba Inu price would be around $0.0000120 before an attempted move to the $0.0000137 resistance level. Such a move would constitute a 65% rally north of the current position.

Safe to say, keeping an eye on on-chain indicators and broader market trends is key. This will give a complete insight into the Shiba Inu token’s possible price action in the coming days.

Nevertheless, despite SHIB’s optimistic outlook, it could never do as well as AI, the ticker for the AiDoge ecosystem.

AiDoge Presale Is Ending – Time To Grab Some Coins

In a similar way, many in the crypto community on Twitter are looking for stable assets with long term value. The AI token presale is one such possibility that has attracted widespread attention from investors around the world. The presale is due on June 19, so now is the time to examine this offer.

Born from the AI meme-generated platform and a token-based credit system, the $AI token promises to completely disrupt the meme coin market.

The smart money is flocking to presales to get their hands on the most profitable opportunities in the crypto business, giving rise to a hotly disputed ranking of the best crypto presales of 2023.

AiDoge is an advanced artificial intelligence (AI) platform for creating and sharing crypto memes. The AIDoge platform is launching its meme coin AiDoge in 14 days, and since its native token $AI offering began at the end of April, it has amassed more than $14 million.

Its exclusive AI-generating tools can be accessed using the $AI token. In addition to other perks, holders of $AI tokens will have early access to cutting-edge meme-generating software, receive airdrops, and more. Further, holders can vote, engage and earn rewards with AiDoge voting systems.

14 Days Left to Claim and Launch AiDOGE

AiDoge is the first real opportunity for meme artists to make money from their work, and the blockchain technology behind the AiDoge platform ensures that they retain full ownership of their creations at all times.

AiDoge has made “meme-to-earn” a legitimate method of making money online.

The revolutionary new use of cryptocurrencies is proving to be very popular with the crypto investment community as a whole.

With credits gained through staking, the AiDoge meme-generating platform is scheduled to launch in the fourth quarter of 2023.

With $AI 50 Billion Token airdrops of $50,000 in total, there is now a competition where the winners will receive a huge share of the $AI airdrop. All you have to do is to participate in the AiDoge presale by purchasing $AI tokens with the widget provided. Once your transaction has been finalized, you will be sent a referral code. Share your referral code. Based on the overall amount raised through your referral link, you will receive a portion of 50 billion $AI.

Those who invest now will sit on paper gains of roughly 15% by the time the coin joins the market. This will come as the price will be steadily raised till its decentralized  (DEX) and centralized CEX) listing price of $0.0000336 per token. Only 14 days are left to claim the reward and launch of AIDOGE coin on exchanges.

With so many people interested in the AI-generated Memes project, $AI will likely be listed on major cryptocurrency exchanges like Binance, which might set off a buying frenzy.

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