Imagine a cryptocurrency that combines the internet’s obsession with dog memes and the exciting world of artificial intelligence (AI). That’s exactly what the team behind WienerAI (WAI) has devised – an approach that has helped them raise over million in the project’s ongoing presale phase. WienerAI – The AI-Powered Meme Coin Revolutionizing Crypto Trading […]
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Pump.fun, a Solana-based marketplace and deployment tool for meme coins, has acknowledged suffering an exploit dealing with the bonding curve contracts in its platform. While the protocol is still investigating the matter, it reported that “the TVL in the protocol right now is safe,” as it has upgraded the contracts to deal with the attack […]
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Analyst Predicts Shiba Inu to Soar 50% Amidst Meme Coin Market Rise
Well-known cryptocurrency expert and enthusiast Dami Defi has offered his insights on the price action of Shiba Inu, predicting a surge in the crypto asset as the Meme coin market sees a fresh wave of demand.
Given the optimism around meme coins lately, Dami Defi is confident that Shiba Inu could rise by over 50% shortly.
Shiba Inu Price Could Rise By 20%
Shiba Inu (SHIB) has become one of the leading meme coins, attracting positive outlooks from several analysts in the crypto space today. Even though Shiba Inu began the week on a negative note, Dami Defi believes the meme coin can potentially surge in the short term.
Related Reading: Crypto Analyst Predicts 350% Surge For Shiba Inu – Here’s The Target
According to Dami Defi, the digital asset’s price has formed a descending wedge pattern in the 1-day timeframe. Should SHIB break out of this falling wedge pattern, Dami Defi anticipates an over 50% surge in Shiba Inu’s price. This 50% increase will take the crypto asset from its present price to the .000035 level.
The analyst predictions align with Ali Martinez’s forecast, highlighting that the digital asset’s price is moving in a descending parallel channel.
While Dami Defi anticipates an over 50% price surge for Shiba Inu, Martinez expects the crypto asset to rise by over 20% in the short term. Martinez’s anticipated 20% increase will take the crypto asset from the .00002444 price to the .00002954 level.
Martinez appears bullish on Shiba Inu, as he had predicted the asset to reach .000072323. He highlighted that SHIB on the daily chart seems to be forming a bull flag, indicating an impending movement on the upside. Due to this, the expert opened trade at around .000018343 in hopes of a strong breakout that will take Shiba Inu to .000072323.
Martinez’s prognosis, fueled by March’s rally, indicates that SHIB’s value may rise even further, providing investors in this thriving and active sector of the cryptocurrency market with a positive outlook for the meme coin.
SHIB Predicted To Repeat 2021 Price Trend Or Even Better
Shiba Inu’s marketing head, Lucie, delved into the memecoin’s price action. Lucie claims that during October 2021, SHIB, with no burns and no significant adoption at the time, witnessed a surge from .000007 to .000088 in just a matter of days, indicating an over 1,100% rise.
With the massive burns and widespread seen today within the SHIB ecosystem, Lucie might be suggesting the potential for the asset to reiterate this move or even further in this bull cycle. If this trend repeats, SHIB’s price might reach .00025 in this bull cycle.
Lucie also underscored the consistent support by SHIB’s robust community and strong Shibarium ecosystem since 2021, which might also catalyze Shiba Inu’s growth.
At the time of writing, SHIB was trading at .00002366, demonstrating an increase of over 4% in the past week. Despite the price rise, its market cap has been down by 2.59%, while its trading volume has been up by 1.79% in the past day. Given the momentum in the meme coin market, SHIB may be able to see more gains in the coming months.
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Pepe Power! Meme Coin Surges On Back Of GameStop Nostalgia
The internet’s resident amphibian is back in the spotlight, but this time Pepe the Frog isn’t gracing troll forums – he’s maneuvering his way to the top of the cryptocurrency charts. PEPE, the meme coin named after the internet legend, is experiencing a historic surge, fueled by a potent mix of nostalgia and retail investor fervor.
From Backwater To Bullfrog: PEPE’s Rise
PEPE’s recent ascent is nothing short of meteoric. Trading volume has skyrocketed by an impressive 300% in the past 24 hours, with the price reaching an all-time high. This dramatic rise coincides with a resurgence in Gamestop (GME) stock, leading many to believe that the retail investor army of 2021 is back for round two, armed with meme coins as their weapon of choice.
The return of Keith Gill, better known online as “Roaring Kitty,” has acted as a rallying cry for these digital warriors. Gill’s surprise post on his dormant Reddit account sent shockwaves through the market, reigniting the nostalgic flames of the original Gamestop saga. Analysts suggest this nostalgia has spilled over into the crypto market, sparking a full-blown meme coin craze.
PEPE, already experiencing a steady climb since mid-April, has emerged as the unlikely champion of this digital meme menagerie.
Whales Take A Dip In The Pepe Pond
It’s not just the small-time investors driving the PEPE surge. Big money, or “whales” in crypto speak, are also diving headfirst into the frenzy. On-chain data reveals a whale recently splashing out a cool 1.86 million USDC for a whopping 195 billion PEPE tokens. Another whale scooped up a hefty 406 million PEPE, further propelling the price upwards.
This guy spent 1.86M $USDC to buy 195B $PEPE 12 hours ago and has now made an unrealized profit of 6K.https://t.co/TSngBKN2yC pic.twitter.com/Oszxx3nIO2
— Lookonchain (@lookonchain) May 14, 2024
But Is It All Golden Memes And Rainbows?
While PEPE’s current trajectory is a dream come true for early adopters, a cautionary tale lurks beneath the frothy surface. Meme coins are notorious for their wild volatility. Their value is often built on hype and fleeting internet trends, not robust financial fundamentals. This means a sudden shift in sentiment could trigger a dramatic price crash, leaving investors holding the Pepe bag.
Related Reading: Bullish On Ethereum: Analyst Predicts Crypto’s Imminent Takeoff
Furthermore, PEPE is a relatively new player in the crypto game, with an uncertain future. Unlike established cryptocurrencies, PEPE lacks a proven track record. Its long-term viability remains a question mark.
Featured image from @GameStopPepe/X, chart from TradingView
PEPE Leads the Pack: Outpacing Other MEME Coins In Market Surge
PEPE price is up over 10% and outpacing other meme coins. The price could continue to rise toward the .0000125 level in the near term.
- PEPE started a fresh increase above the .0000105 level.
- The price is now trading above .0000110 and the 100-hourly Simple Moving Average.
- There is a breakout pattern forming with resistance at .0000115 on the hourly chart of the PEPE/USD pair (data source from Kraken).
- The pair could rally further if there is a close above the .0000115 resistance.
PEPE Price Surges Over 10%
In the past few sessions, PEPE saw a steady increase above the .000010 resistance. It outpaced Bitcoin ,Ethereum, and MEME coins. There was a 10% increase, and the bulls were able to push the price above the .0000110 level.
It traded as high as .00001148 and is currently consolidating gains. The price is holding gains above the 23.6% Fib retracement level of the upward move from the .00000959 swing low to the .00001148 high. It is also well above the .000011 and the 100-hourly Simple Moving Average.
Immediate resistance is near the .0000115 level. There is also a breakout pattern forming with resistance at .0000115 on the hourly chart of the PEPE/USD pair.
The first key resistance is near .00001155. A close above the .00001155 resistance zone could send the price higher. The next key resistance is near .000012. If the bulls remain in action above the .000012 resistance level, there could be a rally toward the .0000125 resistance. Any more gains might send the price toward the .0000132 resistance.
Are Dips Limited?
If PEPE fails to clear the .0000115 resistance zone, it could start a downside correction. Initial support on the downside is near the .0000110 level. The next major support is at .0000105 or the 50% Fib retracement level of the upward move from the .00000959 swing low to the .00001148 high.
If there is a downside break and a close below the .0000105 level, the price might accelerate lower. In the stated case, the price could even drop below the .000010 support zone.
Technical Indicators
Hourly MACD – The MACD for PEPE/USD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for PEPE/USD is now above the 60 level.
Major Support Levels – .0000110 and .0000105.
Major Resistance Levels – .0000115 and .0000120.
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New Solana Meme Coin Presale ‘Sealana’ Has Just Raised $700K – Next Crypto to Explode?
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Season of the Meme Coin: Unconventional Cryptos Dominate 3-Month Gains
Over the past 90 days, bitcoin has appreciated by 23.4%. However, eight other cryptocurrencies have demonstrated significantly larger gains, each recording triple-digit increases over the same period. 90-Day Trends Propel Niche Tokens to New Heights Statistics from the past week show lackluster performances for cryptocurrencies against the U.S. dollar. Yet, over the past 90 days, […]
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