Shiba Inu Experiences a Bearish Pressure as Investors Cling to Chimpzee For Support
Shiba Inu's market value has experienced a slight price decline. But the recent drop could be attributed to the general crypto market downtime. Although, data from IntoTheBlock highlighted a significant achievement for Shiba Inu, as the total count of unique addresses reached an impressive 3.53 million.
Further analysis of the Shiba Inu holders' distribution reveals that 69% have embraced a long-term approach, holding onto their tokens for over a year.
Meanwhile, 27% of holders have maintained their positions for less than a year, and a smaller portion of 4% have held their tokens for less than a month. This information suggests that Shiba Inu has attracted significant attention from investors despite its bearish price trajectory in the past weeks.
SHIB Trading volume Upticks TodayAs of today, the value of SHIB is down by 6.53% within the day, reaching a price of $0.000009694. SHIB has also gained about 1.8% over the past week and 23% in the last 30 days. Its trading activity has also surged more than 70% in 24 hours, as it holds a value of $449 million.
These positive movements support the ongoing narrative of Shiba Inu's market resurgence as investors anticipate major rallies after the Shibarium main net launch.
SHIB Price Meets Contender and Loses Grip on The $0.00001 Mark
SHIB's price is struggling to surpass its position even though a few technical indicators suggest a continuous buy move for the token.
The Relative Strength Index (RSI) at 56.64 implies that the bulls are not done overseeing the market.The Moving Average Convergence/Divergence remains above the signal line with green histogram bars, reinforcing buyers' dominance over the SHIB's market.
Also, SHIB's price sits above the 50-day but slightly below the 200-day Moving Averages, strengthening the chances for a continuous uptrend. While this formation signals a bullish trend, it's unlikely for the token to surge further due to the resistance level around the 50 SMA level.
SHIB's support and resistance levels
Despite the projections of these indicators, SHIB has remained subject to the resistance level of around $0.00001177.This position could restrict higher movements for the token, as sellers had always pushed back prices from this level.
In a nutshell, SHIB could decline from this level and initiate movements to the next support level at $0.00000877.Nonetheless, its price, like many other crypto assets, could deviate from the projected path. As such, it's important to remain cautious when making trading decisions.
Experts' Forecasts of SHIB Future PricesBased on CoinPedia's projections, multiple factors are poised to impact the SHIB coin's price trajectory positively. These include the potential expansion of Shiba Eternity, the growing endorsement by retail and luxury brands, and the proactive endeavors of the SHIB army in integrating Shiba Inu into realms like DeFi and NFTs.
Combining these elements could substantiate its name as the DOGECOIN Killer." Considering the implications of heightened demand, a plausible scenario emerges where the value of the Shiba Inu token climbs to an attainable peak of $0.00002026.
Drawing insights from Coincodex's predictions, the envisaged price landscape for Shiba Inu in 2030 encompasses a lower boundary of $0.00005046 and an upper limit of $0.00006386. Compared to the prevailing price, the potential for Shiba Inu to achieve a remarkable 554.66% growth by 2030 becomes apparent if it manages to attain a higher price projection.
These Updates Could Influence SHIB's Price in the Coming DaysA crypto payment gateway, BitPay, has launched an innovative service named Bill Pay, enabling individuals to settle their everyday expenses directly using their cryptocurrency wallets, including SHIB.
In a press release on August 8, BitPay emphasized that the introduction of Bill Pay extends the convenience of more than 5,000 service providers, encompassing essential payments such as mortgage payments, personal loans, car installments, and credit card bills.
This novel addition has been seamlessly integrated into BitPay's self-contained wallet infrastructure. This allows their clientele to effortlessly execute payments while circumventing the involvement of traditional banks and financial institutions.
BitPay has also clarified that the initial roll-out of this payment solution will encompass a select 19 states, with states like New Jersey, Florida, and Washington included. Stephen Pair, the CEO of BitPay, underscored the significance of this advancement by labeling it a monumental" stride forward for communities traditionally excluded from conventional banking systems.
He also highlighted that BitPay's customer base largely consists of avid cryptocurrency enthusiasts, indicating that the introduction of Bill Pay could revolutionize the landscape of the entire industry.
Chimpzee (CHMPZ) - A Better Option for Profit-Driven Investors
Chimpzee intends to leverage the capabilities of web3 technology to achieve its environmental sustainability goals. Its roadmap to success encompasses an online shop, creating NFTs (non-fungible tokens), a bustling marketplace, and immersive play-to-earn (P2E) games.
The potent fusion of web3 and crypto-driven incentives has elicited significant interest from gaming and cryptocurrency communities. The Chimpzee project initiates a groundbreaking departure from the traditional landscape of charitable donations by offering individuals an avenue to earn money while contributing to causes.
At the same time, the platform takes on the noble role of spotlighting critical issues such as animal conservation, deforestation, and broader environmental concerns.
Among its innovative features, Chimpzee introduces the concept of NFT passports - namely, Diamond, Gold, Silver, and Bronze tiers. During the presale phase, early investors in Chimpzee enjoy a generous 100% bonus, further adding to the appeal of participation.
Chimpzee's journey to the 9th presale phase demonstrates its remarkable potential within the web3 domain, presenting unprecedented opportunities.
With a remarkable capital injection of over $1.196 million, Chimpzee positions itself to reshape the cryptocurrency landscape with the distinct focus and promise it holds.
CHMPZ tokens are attainable at just $0.00085 each during the ongoing presale. As the presale advances to its culmination, these tokens are projected to surge significantly in value, reaching $0.00185.
Notably, acquiring CHMPZ tokens involves linking your digital wallet to the token's official website and exchanging it with USDT or ETH.
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