Shiba Inu, the Ethereum-based ERC-20 Shiba Inu inspired token that powers the Shiba Inu ecosystem, was last trading around the $0.000009 level and within recent ranges on Friday, with cryptocurrency markets in wait-and-see mode ahead of the release of key US jobs data. The SHIB token is about 13% up versus the multi-month lows it printed just above $0.000008 in late November, having been bolstered by a broad recovery in the cryptocurrency market, though sentiment remains fragile in wake of last month’s abrupt collapse of the FTX exchange.
SHIB Sees Over $100 Million in Trading Volume in 24 Hours
According to CoinGecko, SHIB has seen trading volume across major cryptocurrency exchanges of over $125 million in the past 24 hours. That’s impressive, but, according to TradingView data sourced from Coinbase, doesn’t represent much of a deviation from the volume profile that SHIB has seen in recent weeks. For example, on Thursday, SHIB tokens saw a trading volume of 1.26 trillion, lower than Wednesday’s 2.254 trillion and similar to Tuesday’s 1.155 trillion.
The lack of volume at the moment likely suggests that a pump in SHIB’s price isn’t coming anytime soon. Volume spikes typically happen at the same time as significant SHIB price movements, which often involve a quick pump followed by a sudden dump in prices.
Price Prediction – SHIB To Pump From Here?
SHIB’s latest rally from lows has seen it move back above its 21-Day Moving Average. SHIB bulls will be hoping that this means the cryptocurrency can soon push back above the $0.000010 level and challenge the next group of major moving averages between $0.000010-11.
However, even if SHIB is able to manage a bullish push, many technicians think that its prospects for further neat-term upside look limited. That’s because the cryptocurrency has been moving lower over the last few months within a bearish trend channel. The pattern has been a pump, a fall to fresh lows and repeat. Should the pattern continue, it seems likely that after a push to the $0.000013 area, the next stop for SHIB might be a retest of the annual lows just above $0.000007.
Alternative Altcoins To Consider
Dash 2 Trade (D2T)
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features. These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool.
Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features. Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates. D2T token sales recently surpassed $7.5 million and the sale will soon enter its fourth phase, which will see the token pre-sale price lifted to $0.0533 from $0.0513.
Visit Dash 2 Trade here
RobotEra (TARO)
RobotEra is an early-stage sandbox-style crypto metaverse project that hopes to usurp the likes of Decentraland and The Sandbox with superior graphics and a more gamified feel. The RobotEra metaverse will feature a variety of different play-to-earn and player-versus-player games.
In just a few days since the start of its pre-sale of the TARO token that will power the in-metaverse economy, RobotEra has already raised close to $300,000. Once RobotEra has raised $1.8 million, the price of the TARO tokens being sold will jump to $0.025 from their current $0.020 level, so interest investors are encouraged to get in quickly.
Visit RobotEra here
Calvaria (RIA)
Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.15 million and is in the final stage of its fundraising process. Only 30% of pre-sale tokens remain up for grabs.
Visit Calvaria Now
Source: cryptonews.com
