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The price of the Shiba Inu rose 8% in the last 24 hours to trade at $0.00003389 At 03:39 am EST trading volume fell 30% to $3.52 billion.
This development comes as meme coins soar again, with SHIB soaring 163% last week. It is also the top trending cryptocurrency on CoinMarketCap today.
Shiba Inu price to trade above symmetrical triangle
In March, the Shiba Inu price saw a significant rise, reaching the resistance level of $0.000045, at which point the bears gained control over the price. Consequently, this caused price fluctuations within the boundaries of a symmetrical triangle.
However, the bulls appear resilient as the price is trading at the upper boundary of the triangle, aiming for a breakout. Furthermore, SHIB is trading above the 50-day and 200-day SMA, confirming the bullish momentum.
Furthermore, the Relative Strength Index (RSI) is trending upward from the mid-level of 50 to 57, suggesting that the price is trading in balance as it attempts to break out.
Additionally, the Moving Average Convergence Divergence (MACD) shows signs of bullish momentum as the moving average line (blue) crosses above the signal line (orange), representing a bullish crossover. Investors mainly use the bullish crossover as a stimulus to buy more as the market is primed for a bullish rally.
The green bars on the histogram also support the current trend as they form above the zero line, indicating positive momentum.
Shiba Inu Price Prediction
Shiba Inu price analysis shows a bullish bias as the bulls aim to maintain the bullish momentum, enough to push the price above the symmetrical triangle.
Furthermore, the MACD and RSI are showing signs of a breakout to the upside, with the bulls targeting $0.000055 while breaking through the resistance levels at $0.00045 and $0.000052.
However, if the bears take control of the price, they could push the price through a pullback, which could cause SHIB to retrace to $0.0000257, coinciding with the 200-day SMA.
Meanwhile, investors are also piling into a new dog-themed meme coin called Scotty the AI. Its pre-sale has gone parabolic, adding around $2.9 million last week.
Scotty The AI: A Dog-Themed Token-Worthy Alternative to SHIB
He Scotty the AI (SCOTTY) The pre-sale continues to gain traction in the meme coin community and just surpassed $4 million in funds raised as it pursues its goal of $4.2 million.
SCOTTY attracts many in the meme coin space as it is the first meme coin with artificial intelligence features. One such feature is Scotty Swap, which offers users a quick and easy way to exchange ETH or BNB for $SCOTTY.
The platform also features ScottyChat, which serves as an AI-powered crypto companion that offers market insights on crypto assets.
Earn passively by staking $SCOTTY
The platform also allows you to earn passively through a staking option, where investors bet $SCOTTY for an annual percentage yield (APY) of 53%.
According to CryptoNews, a prominent YouTube channel, $SCOTTY could rise 10x at launch.
You can participate in the pre-sale by purchasing $SCOTTY tokens for $0.0083 each. There are less than 10 days left before a price surge, so now is the best time to buy and make quick profits.
To participate in the pre-sale, you can purchase tokens at Scotty the AI official website and exchange ETH or USDT for $SCOTTY. You can also make purchases with your bank card.
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