Despite a dull tone to trade in the broader crypto market as investors await key US jobs and PMI survey data set for release later in the week, leading meme coins are performing well.
Indeed, Shiba Inu (SHIB) is the only crypto in the top 20 in the green over the last 24 hours, as per CoinGecko, with the coin making the most of an influx of more than $150 million in trading volumes over the past 24 hours.
SHIB was last trading in the $0.00000850 area, around the mid-point of its $0.0000082-88 weekend range and up around 2.5% on the day.
Importantly, SHIB was able to break above the key support-turned-resistance area in the low $0.000008s this weekend, as well as to the north of its 100-Day Moving Average, hitting its highest level since early June in the process.
That confirms the meme coin’s near-term bullish trend given it had recently formed an ascending triangle, with near-term price predictions subsequently bullish as a result.
Are Shiba Inu (SHIB) Whales Buying?
Buying from whales appears to be helping drive the positive price action.
As per a tweet from on-chain analytics firm Santiment, wallets holding between 10 million and 100 billion SHIB tokens have accumulated $8 million of the coin in the last eight weeks.
Clearly, whales were eager to buy last month’s dip to multi-year lows around $0.000006 and whale buying could yet propel the coin higher, should the trend continue.
Price Prediction – Where Next for Shiba Inu (SHIB)?
With whale buying and a rally in other similar meme coins like Dogecoin taking hold, the near-term outlook for SHIB is looking good, with technical analysis further strengthening the bullish case.
If SHIB can convincingly clear its former resistance levels in the low $0.000008s, the door is open for a swift rally towards the late-May highs at $0.0000092 and then the March/April lows and 200DMA around the psychologically important $0.000010 mark.
That could mean easy near-term gains in the region of 18% for SHIB.
Altcoin to Consider – yPredict (YPRED)
A ground-breaking new AI-powered crypto trading and market intelligence platform called yPredict is building a first-of-its-kind, institutional-grade crypto price prediction system.
According to observers, the tool, which is powered by yPredict’s in-house deep data analysis, will help crypto investors discover the next explosive crypto with ease.
The best part, yPredict’s crypto price prediction system will remain free and open for all users to access – the price predictions will be made publicly available and require no login to see, the project’s Whitepaper explains.
But yPredict offers investors much more than just crypto price predictions.
The project is “building a cutting-edge crypto research and trading platform that provides traders and investors access to dozens of AI-powered signals, breakouts, pattern recognition, and social/news sentiment features”, the start-up says in its Lite paper.
The platform’s technology was designed using state-of-art predictive models and data insights built by top 1% AI developers and quants.
Meanwhile, “the ypredict.ai marketplace will enable experts to earn recurring revenue by offering their model predictions or data research as trading signals, which traders and investors can subscribe to”.
As AI continues to make waves in the crypto industry, projects like yPredict are expected to attract significant interest and user bases.
That’s why many industry observers are tipping AI cryptos like yPredict’s native $YPRED token to be amongst the next best-performing coins.
Visit yPredict Here
Get in on the yPredict Presale Now
To fund the development of its revolutionary AI-powered crypto trading and market intelligence platform, yPredict is running a presale of the native $YPRED token that will power its platform.
The presale is absolutely flying and just hit the massive $3.25 million milestone.
The project’s presale is in its seventh stage, with $YPRED tokens selling for $0.10.
However, there’s still plenty of upside for new investors, as the token will list across major exchanges for $0.12 later this year, for paper gains of 20%.
But the pace at which yPredict’s $YPRED token continues to fly off the shelves means that investors need to be careful not to miss out before the presale sells out.
yPredict has a presale hard cap of $6.5 million, which could be hit in a couple of weeks if the presale continues to gain pace like it has in recent days.
The 33% gains that investors who get in now can secure could pale in comparison with the upside $YPRED could enjoy in the long run.
Visit yPredict Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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