The Shiba Inu (SHIB) price seems uncertain in its next move following the recent rally. While the price initially gained in the past 24 hours, momentum has waned, resulting in a 0.37% loss. Despite the initial surge, SHIB is still up by 1.29% compared to last Thursday. However, trading volume has dropped by 31.89%, now at $770 million, indicating a decrease in interest. Yet, optimism persists, with the possibility of an impending breakout due to the spotlight on SHIB.
Shib Burn Rate Soars 3,679% – Will SHIB Price Follow?
The SHIB burn rate has surged by an impressive 3,679%, but it falls short of SHIB’s historical peaks, suggesting that the coin may be overshadowed in the current memecoin market. Despite this, technical indicators tell a different story. SHIB continues to follow its expected trajectory through an ascending triangle pattern, with a potential golden cross approaching. Although a breakout attempt was rejected at $0.00001910, SHIB is in a stronger position now.
The daily MACD has confirmed a break above the signal line, often seen before substantial price increases. The Relative Strength Index (RSI) is in a stable position at 58 after previously dipping into bearish territory, signaling a return to stability and rising buying pressure. If SHIB breaks out, it may face resistance at $0.00002170, though a larger breakout could follow based on a multi-month bullish descending wedge pattern.
This Low Cap Gem is Stealing the Spotlight
Despite SHIB’s potential, newer meme coins are gaining momentum. As the “meme coin supercycle” sentiment rises, coins like $GOAT and $Pnut are gaining attention, prompting some investors to diversify into these emerging low-cap opportunities. One such opportunity is Crypto All-Stars ($STARS), which offers the industry’s first meme coin staking platform, the MemeVault. This platform allows meme coin holders to stake their coins and earn rewards in the native $STARS token, uniting the meme coin community and providing additional income opportunities.
Crypto All-Stars has already raised over $3.1 million in its presale and has passed two successful audits, ensuring transparency and safety for investors. The $STARS token also offers a substantial 501% APY, making it an attractive passive income opportunity, even amidst market volatility.
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