The Shiba Inu price has risen by 3% in the past 24 hours, reaching $0.00000845 amid anticipation of the upcoming launch of the Shibarium layer-two scaling network. Its current price represents a 6% increase in a week, although the meme token remains down by 10% in a month, with excitement regarding Shibarium still not doing quite enough to fully offset weeks of market negativity.
However, the imminent launch of the layer-two scaling solution shows that Shiba Inu is serious about being more than just another gimmicky meme coin, something also indicated by its long-awaited metaverse. As such, SHIB really could be one of the major coins to watch this year, with significant rallies potentially in sight.
Based on SHIB’s price chart, it has long been due a rebound to correct months of selling. Its relative strength index (purple) has spent months below 50 (or lower), although its recent ascent signals that we may be at the start of a rally.
Similarly, its 30-day moving average (red) has remained below its 200-day average (blue) for pretty much all of the past 12 months, again indicating that it really should break out and rise again in the near future.
Recent developments within the Shiba Inu ecosystem suggest that such a breakout may be closer than some think. As mentioned above, the Shibarium Network is due to launch its beta in the coming weeks, although the team hasn’t provided a specific date or window.
This is a major development for Shiba Inu since up until now the Ethereum-based cryptocurrency has suffered (like many other platforms) from relatively high Ethereum gas fees. However, with the launch of Shibarium, it will become much faster and much more affordable, something that should facilitate further uptake and use of SHIB.
The rollout of Shibarium is set to arrive at just the right moment in time for Shiba Inu, which is also looking forward to its very own metaverse. The latter continues to undergo steady development, with its team releasing a steady stream of concept art and demos in 2022, while also welcoming the New Year with the promise that “we can’t wait to share more developments” on the road towards launching.
Assuming SHIB: The Metaverse does launch this year, it will cause a major SHIB rally. Indeed, the altcoin posted a 58% rise in early February, for example, with the announcement of its own metaverse being the major driver.
It also jumped by 25% between mid and late March, while August brought a 64% increase, as the meme token rose from $0.00001032 to $0.00001695 in a matter of days. This was all because the metaverse team shared new updates, implying that the platform’s release will cause a massive rally.
For members of its community, there’s an expectation that SHIB could eventually rise as high as $0.001 this year. This would imply a gain of over 10,000% against its current price, something which isn’t impossible, but which would almost certainly mean SHIB would have to be the best-performing top-100 coin of the year.
In the shorter term, some analysts are predicting that SHIB may witness a 30% rise by the end of January, which would take it to around $0.000011, meaning it would lose one zero.
While SHIB arguably has the best chance of enjoying a rally this month among major cryptocurrencies, there are a handful of new altcoins that could surge in the coming weeks. In particular, coins holding their presales at the moment could experience big rallies once they have their first exchange listings, something which was very profitable last year, despite the bear market.
For instance, Lucky Block (LBLOCK) saw an increase as high as 6,000% in February, compared to a sale price of $0.00015. To take another example, Tamadoge (TAMA) rose by as much as 1,800% compared to its presale price in October, when it was listed on OKX.
The three altcoins below are still in the process of holding their respective token sales, although these will end soon, giving early investors a chance to make some above-average gains.
Running on Ethereum, Fight Out (FGHT) is an ambitious move-to-earn platform that combines real-life workouts with Web3. Taking the lead from earlier M2E platforms such as STEPN, it will track and reward an extensive variety of workouts, including boxing, weightlifting and yoga, while also offering a range of in-app and IRL courses at its own branded gyms.
Launched last month, its token sale has already raised over $2.6 million, with 1 FGHT currently going for $0.0166 (although this price is set to increase). Investors can participate in the sale by going to its official website and connecting their Connect Wallet or MetaMask wallets.
Visit Fight Out Now
Dash 2 Trade is an Ethereum-based trading intelligence platform due to launch in the next few months, when it will provide real-time analytics and social trading data. It offers investors of all experience levels all the resources and tools they could need to improve their trading performance.
The sale of its D2T token has raised over $13.6 million and has actually sold out, but the Dash 2 Trade team are now running an overfunding round before D2T lists on January 11. It has already confirmed listings on BitMart, Changelly Pro, and LBANK Exchange, with more set to follow.
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C+Charge (CCHG) is a peer-to-peer payment network for electric vehicle (EV) charging stations, one which aims to democratize access to carbon credits. Running on the BNB Chain, it launched the sale for its native CCHG token before the end of 2022, with CCHG set to be used within its network by EV owners to pay to charge their vehicles.
C+Charge will also reward users with carbon credits for charging their EVs at its stations, while the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network.
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A quick 3min read about today's crypto news!
A quick 3min read about today's crypto news!