New York, NY –News Direct– Finance News
It's been an up-and-down month for Shiba Inu (SHIB) holders, with the token's price rising in the first half of April before pulling back in the following weeks.
Given this slowdown in price momentum, the chances of SHIB ever hitting $1 now appear slim – since the price would need to increase by over 9,700,000% to reach that level.
This means investors seeking viral projects with the potential to reach the $1 price point may need to look elsewhere – with new meme coin AiDoge looking increasingly likely to meet this criterion.
Looking at the Shiba Inu price chart, it’s evident that the token is going through a highly-volatile phase. Long wicks on nearly all of the daily candles highlight the scale of the battle between buyers and sellers.
This volatility is nothing new for SHIB holders, given the token's "meme coin" characteristics. However, volatility has increased markedly since Elon Musk changed the Twitter logo to the Dogecoin (DOGE) icon.
At first, this was a good thing for Shiba Inu holders since the increased attention paid to DOGE had a knock-on effect on the SHIB price.
However, the positive momentum was short-lived after Shiba Inu printed a high of $0.0000117 – which has now held as resistance three times since mid-March.
An even more worrying factor for SHIB holders is that price appears to be forming a small bear flag on the 4H timeframe. Bear flag patterns tend to develop just before a downward impulse – hinting that more bearish momentum may be on the horizon.
If Shiba Inu surges to the downside, the likely target would be the wicks around $0.0000097. Price has rejected this area aggressively twice in recent months, highlighting the number of buy orders from bulls.
Adding more confluence to the downside move is that Shiba Inu now trades below the 50-day and 200-day EMAs. These are popular metrics that highlight an asset's medium-term and long-term trend – so the fact that SHIB is below them is viewed as a bearish signal.
However, there’s also a bull scenario that could play out for Shiba Inu. Per CoinMarketCap, the token’s 24H trading volume is still hovering around the $100 million region.
Moreover, Shiba Inu’s liquidity remains high on all major centralized exchanges (CEXs), including Binance and Coinbase, which signals that crypto investors are still actively trading SHIB.
For this trading activity to translate into an upwards impulse, there would likely need to be some form of catalyst – whether that be another social media move from Musk or a new use case from Shiba Inu’s developers.
Much of the buzz around Shiba Inu since the start of 2023 has been driven by the pending release of "Shibarium."
Shibarium is Shiba Inu's long-awaited Layer-2 blockchain solution that addresses the low transaction speeds and high network fees associated with the Ethereum network.
By doing this, Shibarium will create a more compelling environment for developers to join the Shiba Inu ecosystem and create decentralized applications (dApps).
The testing phase for this Layer-2 scaling solution, "Puppynet," was launched in March to great acclaim from network users. According to on-chain data, over 100,000 wallet addresses used the test network within the first week of its launch.
Unfortunately, the full-scale release of Shibarium seems further away than ever. Updates from the development team have not been forthcoming in recent weeks, which has frustrated many community members.
Ultimately, the release of Shibarium is viewed by many as a potential "turning point" for the Shiba Inu project. Until now, Shiba Inu's use cases have remained limited, leading to a gradual decrease in token value.
However, assuming Shiba Inu’s team can release Shibarium without a hitch, it would add some much-needed use cases for SHIB – prompting more demand from the investment community.
Given the ongoing battle between bulls and bears, combined with the project’s extremely high token supply, it’s unlikely that Shiba Inu will ever hit the $1 region – unless there is a massive change in its tokenomics.
However, the new crypto project AiDoge has emerged as an alternative investment proposition for those seeking long-term price growth.
Put simply, AiDoge is an Ethereum-based platform that combines exciting artificial intelligence (AI) elements with a meme coin aesthetic – all while offering a truly unique use case.
Per the whitepaper, AiDoge's primary use case will be enabling users to generate high-quality memes in seconds through its AI-powered "meme generator." Users can provide text-based prompts to this generator, which will immediately spit out hilarious images without needing prior photo-editing experience.
The potential applications of this meme generator are endless. For example, users could create a meme immediately after a topical event, which can then be uploaded to social media. Given that the most popular memes are often those that are uploaded first, AiDoge's flagship feature could be highly beneficial.
In addition, AiDoge will have a "public wall" that allows users to upvote other user-created memes they like. The most popular memes will rise to the top of the public wallet – and reward creators with distributions of $Ai, AiDoge's native token.
Although AiDoge is still in its presale phase, early investors can buy $Ai tokens at a reduced price point relative to the intended listing price. At the time of writing, Stage One of the presale is ongoing, meaning $Ai tokens can be acquired for just $0.000026 – the lowest they'll ever be offered.
Those looking to keep tabs on AiDoge’s progress can join the official Telegram channel or follow the project’s Twitter page.
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
Visit the AiDoge Presale
Finance News
Alex Brown
alex@financenews.com
View source version on newsdirect.com: https://newsdirect.com/news/shiba-inu-price-prediction-shib-wont-hit-1-but-viral-meme-coin-aidoge-might-982890875
Concerns about the deficit have fueled the Treasury-bond market meltdown of the past few weeks. These charts show why Wall Street is worried.
An individual can protect their assets from Medicaid, including their home, by placing them into a trust. Essentially, the assets become owned by the trust and not by the individual. This mechanism can decrease the individual’s asset count for Medicaid eligibility, presenting a way to potentially conserve wealth and secure necessary medical care. However, like all […] The post Does Putting Your Home in a Trust Protect It From Medicaid? appeared first on SmartReads by SmartAsset.
Chronic inflammation has serious health consequences. Deepak Chopra says these 5 habits can help reduce it
Jordan Belfort, known for his best-selling book, "The Wolf of Wall Street," shares some simple investing advice to build a large retirement nest egg.
Half a million dollars might sound like a lot of money, but if you’re approaching retirement, is it enough? If you have $500,000 in a pre-tax IRA and expect $2,000 per month from Social Security, you may have enough money to retire at age 67. A half million dollars is a relatively modest nest egg, […] The post I Have $500k in an IRA and Will Receive $2,000 Monthly From Social Security. Can I Retire at 67? appeared first on SmartReads by SmartAsset.
What will the 2024 housing market bring? We asked the experts.
Retiring at age 62 and filing for Social Security will reduce a person’s lifetime benefits by up to 30% compared to waiting until their full retirement age. However, a person with $2.5 million in a Roth IRA may feel more comfortable retiring at age 62, despite the impact that early retirement will have on their […] The post I Have $2.5 Million in a Roth IRA and Will Receive $2,500 Monthly From Social Security. Can I Retire at 62? appeared first on SmartReads by SmartAsset.
Stock market futures rose late Sunday ahead of this week's Fed rate decision. The S&P 500 fell into a correction last week. Can stocks recover?
My wife and I bought long-term care policies 25 years ago when they were relatively cheap. Now, our premiums have increased for the third time to over $500 per month and will rise again in six years. I figure I’ve already paid about $72,000 in premiums. Now, in our late 70s, I’m trying to decide […] The post Ask an Advisor: Our Long-Term Care Insurance Now Costs $500 Per Month. We’re in Our Mid-70s and Have Paid $72k in Total. Should We Cancel Our Policies? appeared first on SmartReads by SmartA
Over the past 50 years, four tidal waves of debt have crashed down on the global economy – three of which ended in crisis.
The rise of electric cars will cause an increase in traffic jams across the country, new analysis conducted by the Government shows.
Treasury yields have surged, bringing the ultra-safe investments in line with the highest dividend yields among S&P 500 firms.
Another busy week for investors will be highlighted by central bank news and results from America's biggest public company.
Investors who chafe at having to take required minimum distributions (RMDs) each year have a new tool to help them reduce the tax bite of these withdrawals – and provide retirement income for life. A financial advisor can help you … Continue reading → The post New RMD Rules Let You Turn Charitable Donations Into Retirement Income for Life appeared first on SmartAsset Blog.
(Bloomberg) — The Federal Reserve’s policy statement is setting up to be the No. 2 event on Wednesday, with investor focus instead likely to be on the Treasury Department’s new borrowing plan, due hours ahead of the interest-rate decision.Most Read from BloombergIsrael Latest: Biden, Netanyahu Plan to Talk Within HoursIsrael Deepens a War With Hamas That Has No End in SightHow This Israel-Hamas Conflict Is Like Nothing That’s Happened BeforeUkraine Recap: Russian Su-25 Fighter Jet Said to be Sh
Exxon’s $60 billion deal to buy Pioneer and Chevron’s $53 billion tie up with Hess sends a clear message to investors — the world may be shifting to clean energy but big oil is doubling down on fossil fuel.
The mortgage industry is notoriously feast or famine, but there’s no obvious way out of this bust, and many mortgage companies are growing desperate.
Many regional banks say their troubled loans are on the rise as commercial borrowers show more signs of strain.
One 78-year-old says he loves his profession and can't imagine stepping back from his work. "I'll retire in a wooden box," he said.
Imagine awakening to the gentle sound of waves washing up on a pristine beach, steps away from your luxury villa. You enjoy a gourmet breakfast while planning your day, debating between taking a tranquil boat trip or enjoying a private tour of a renowned local museum. All of these are made possible because you’ve amassed […] The post What a Retirement Lifestyle With $20 Million Looks Like appeared first on SmartReads by SmartAsset.
