Shiba Inu Price Prediction: Could the recent SHIB token burn indicate a bullish trend, or is it time to consider Dogecoin20?| Trending Viral hub

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The SHIB community is abuzz with excitement following the recent activity surrounding the Shiba Inu (SHIB) token. This activity, while not guaranteeing a dramatic increase in prices, is believed to have a positive effect. long-term Impact on the value of the meme coin by reducing the total number of tokens in circulation.

Shiba Inu even joined the market rally, rising 5% in just one day. This begs the question: Could this be the start of an uptrend?

Shiba Inu (SHIB) Price Analysis

Fueled by community efforts and recent comments from Ethereum co-founder Vitalik Buterin, Shiba Inu is experiencing a renewed wave of interest. Buterin’s comments, made on March 27, 2024, sparked discussions about the token’s potential beyond its meme currency origins.

A key aspect of this potential lies in the ongoing token burning efforts. The recent burning of 51 million SHIB tokens and the community’s efforts to burn over 410.7 billion SHIB in total contribute to a reduction in overall supply.

This deflationary mechanism, similar to what some argue gives value to Bitcoin, could theoretically increase the value of SHIB over time. As of today, SHIB is trading at $0.00003234 with a market capitalization of $17 billion and a daily trading volume of $1.5 billion.

SHIB has encountered resistance at key price points such as $0.00003118, $0.00003217, and $0.00003290. These levels have been subject to repeated attempts to break higher, but selling pressure has sent the price back down. Bitcoin’s recent breakout could potentially influence SHIB’s trajectory.

Shiba Inu Price Analysis Chart

However, a Bitcoin pullback to retest support levels around $76,000 to $77,000 could also impact SHIB’s moves.

Shiba Inu (SHIB) Price Prediction

SHIB is showing an uptrend on the daily chart, and analysts are predicting a possible breakout towards $0.000040. Although there are resistances to overcome, the general trend is positive. However, external factors such as Bitcoin’s movement may still introduce uncertainty into the future price trajectory of SHIB.

Watching SHIB price action and Bitcoin movements closely will be crucial to identifying potential breakouts or significant price changes. The ongoing token burning efforts, combined with the recent bullish trend, suggest a potentially bullish outlook for SHIB. However, it is essential to keep in mind the resistance levels and influence of Bitcoin.

As Shiba Inu prepares for a possible massive rally amid recent token activity, a new meme coin, inspired by Shiba Inu, has gained popularity during its pre-sale phase, reaching a notable $10 million and now entering its final phase.

This presents a last-minute opportunity for investors to get on board before the official launch. For those interested in exploring alternative options, we invite you to consult our comprehensive guide that presents the main altcoins It is worth considering for investing in 2024.

Dogecoin20 (DOGE20)

Dogecoin20 leverages Ethereum smart contracts to offer a bet-to-win feature, taking advantage of the growing popularity of Passive income generation in a volatile market. Early investors who join the pre-sale can earn over 80% Annual Percentage Yield (APY).

a dedicated betting The dashboard provides clear instructions, making participation simple: simply stake the tokens, withdraw them, claim rewards, and monitor the APY. This generous yield incentivizes long-term holding of DOGE20 tokens, mitigating the impact of market swings.

Betting not only benefits you financially, but also contributes to a stronger and safer ecosystem. To demonstrate the commitment, a significant portion of 15% of the total supply of DOGE20 is allocated for staking rewards for two years, with 12.5% ​​distributed to the community in the first year only.

For complete instructions on how to buy $DOGE20Check out our detailed guide.

Transparency is paramount, as demonstrated by the whitepaper, which outlines a clear token distribution strategy. A quarter of the offering supports marketing efforts, while 15% incentivizes token utilization through staking rewards and 10% facilitates seamless trading on decentralized exchanges.

Another quarter goes to the project treasury for long-term operations and future stability. The remaining portion was allocated to the pre-sale, which successfully raised over $10 million and is now sold out. However, there is still an opportunity for investors to join before official listings conclude.

To participate in the $DOGE20 pre-sale, visit dogecoin20.io.

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Smog (SMOG) – Meme Coin with Rewards

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  • Featured on Cointelegraph
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