Outside Source
Shiba Inu (SHIB) is on a make-or-break collision course with the 200-Day MA. Will SHIB burst or bounce ahead of the Shibarium launch?
Last week’s analysis touched on the likelihood of a SHIB retracement from resistance at $0.00001500. This is now firmly underway.
Shiba Inu has been in a retracement pattern for eight days as price action is forced towards downside convergence with a rising 200 Day MA.
Currently trading at $0.00001245 (a 24 hour change of -3%), bulls have fought to gain support at $0.00001250.
This has solidified as a support level over the weekend as SHIB seems to be finding a floor.
Price levels are still sat above more obvious local support at $0.00001150 – $0.00001200. The 200-Day MA has risen to reinforce this local support level.
How high could Shiba Inu (SHIB) go?
Tightening of Bollinger bands suggests a decisive move is nearing. A test of the 200-day MA is likely to force that directional decision.
Looking at SHIB’s indicators adds to the case for an imminent move.
The RSI 14 is reading bullish divergence at 39 – as SHIB seems to be moving to oversold territory. Notably, the RSI hasn’t topped out since February 4 – marking a 9-day cooldown on the RSI.
A glance at the MACD shows 0.000000026 – again, a bullish divergence (albeit minor). This, too, could reflect a rally sat astride the 200-Day MA.
Thus with an upside potential of $0.00001500 (+21%) and a downside risk of breakdown to $0.00001150 (-7%).
SHIB’s current Risk: Reward ratio is 3.0 – a very attractive entry – characterized by limited downside risk.
But why is Shiba Inu (SHIB) rallying?
In yesterday’s Shiba Inu price analysis, it was highlighted that Shiba Inu’s burnrate has surged 1,000% in hours.
The huge uptick in burn rate has led some analysts to suggest there is a big comeback in the market inbound.
With deflationary pressure only set to increase with the launch of Shibarium (tipped to launch this week) – things could be on the up soon. Shibarium will result in billions of extra SHIB burned, increasing the scarcity of supply, and theoretically driving price up.
Altcoin projects set to outperform Shiba Inu (SHIB) this year?
With Shiba Inu price action sat in a precarious position some investors might remain unsure. To help, here are a few altcoin projects that could offer bigger and more reliable returns.
Meta Masters Guild ($MEMAG)
Meta Masters Guild is intent on changing the GameFi space for the better. This promising new sector has been reputationally damaged by an intense focus on monetization – a huge put-off for players globally.
Meta Masters Guild is on a mission to change this, partnering with major triple AAA studios such as GameAround to deliver a high-octane immersive video gaming experience well ahead of any in-game economics via the growing MMG ecosystem.
$MEMAG is currently on presale in the penultimate 6th round with only two days left until the final 7th round begins! This will see the price of $MEMAG leap almost 10% to $0.021 a token.
The ecosystem already has a number of games in the presale, including Meta Kart Racers and Raid NFT. This is impressive project growth from an ecosystem that hasn’t even finished presale funding!
One of the most exciting games under development is Meta Masters World – aiming to deliver strategy gaming to the Web3 market for the first time.
Players start with a small army and set out into a war-torn world of PvP empire-building. You can acquire your land by accumulating riches or blood spilled.
There is full character customization planned to allow you to become the character you always imagined. And if you acquire enough land in the meta – your empire will pay you in real life with the planned in-game currency redeemable for $MEMAG too.
There, of course, will be an economics marketplace similar to RuneScape that will allow players to use $MEMAG to upgrade their empires.
More details are set to be revealed on this title soon. Follow Meta Masters Guild on Discord and Telegram to keep up to date.
Fight Out ($FGHT)
Fight Out is another revolutionary crypto project coming to the exchanges soon (tipped for April).
The exciting Move-2-Earn project is set to shake up the space with innovative technology that challenges the likes of STEPN, which can only monitor the simple walking exercise.
Fight Out is delivering a holistic monitoring system that can record any exercise from your time in the weight room to the hours down the Dojo. With almost $4 million raised in a presale launched toward the end of Q4 2022.
Fight Out hopes to remove the barriers to entry that come in the form of Web3 knowledge and expensive starter NFTs associated with platforms like STEPN.
The main approach is to open the web3 industry so that everyone can benefit while living a healthy lifestyle. Users who join this new ecosystem will have access to a Move-to-Earn (M2E) fitness app and a chain of physical gyms spread around the world.
Fight Out rewards all types of exercise – and really pays with the native $FGHT token empowering an entire marketplace of physical and digital rewards.
Despite Fight Out being in the presale stages, the team is already making inroads in the crypto industry.
Last week the team had a project interview with Binance check it out here!
C+Charge ($CCHG)
Are you ready to join the green energy revolution and profit from it? Look no further than C+Charge (CCHG), a new cryptocurrency that’s set to revolutionize the carbon credit industry.
As electric vehicles (EVs) become more prevalent with the likes of Tesla. The demand for EV charging stations is skyrocketing.
And with the projected $2.4 trillion growth in the carbon credit industry by 2027, there’s never been a better time to jump on board.
But why should only big EV manufacturers like Tesla reap the benefits?
C+Charge offers a game-changing solution.
Its Peer-to-Peer (P2P) payment system for EV charging, powered by blockchain technology, enables EV owners to have a chance to earn carbon credits and share in the industry’s growth.
Don’t miss your chance to own a piece of the pie.
The pre-sale of the CCHG token is already underway, offering early investors a chance to get in on the ground floor of this eco-friendly project. Plus, there’s a $50k giveaway for early birds.
Join the C+Charge movement today and be a part of a project that’s not just profitable but also making a difference for the environment. Invest in a brighter, greener future.
This article first appeared at Cryptonews
