Traders Bullish on Shiba Inu as $SHIB Expected to Turn Parabolic After Breaking This Level; Could These Meme Coins Also Pump?
Traders are turning bullish on Shiba Inu as $SHIB surges by a substantial 18% this week, pushing the token into the 15th-ranked position by market cap value.
Whales and retail traders are becoming optimistic about the future value of $SHIB and expect it to turn parabolic after it breaks a bearish .382 Fib Retracement level.
With the Shiabrium ecosystem set to be unveiled in the coming days, $SHIB might be an excellent opportunity for those sitting on the sidelines at these levels.
Meanwhile, traders are also turning their attention to a handful of newly emerging meme coins that they believe can produce outsized returns relative to $SHIB, $DOGE, and $PEPE.
In particular, XRP20 ($XRP20), Shibie Coin ($SHIBIE), and Wall Street Memes ($WSM) continue to turn heads as they attract extraordinary levels of investment.
What you'll learn 👉
Traders Turn Bullish on $SHIB as They Anticipate Parabolic Movement After Current Resistance.
Traders are increasingly bullish on $SHIB after it broke above resistance at $0.00000850 earlier in August and surged as high as $0.00001 this week.
The resistance at $0.00001 is provided by a bearish .382 Fib Retracement, measured from the February highs to the June lows.
$SHIB had been trading inside an ascending triangle pattern since June 2023 but recently broke above the upper resistance of the triangle to surge into the $0.00001 level this week;
Looking ahead, traders believe $SHIB stands a chance to turn parabolic if it manages to break the resistance at the bearish .382 Fib Retracement at $0.00001.
Beyond $0.00001, additional resistance lies at $0.00001111 (bearish .5 Fib), $0.0000116, $0.0000122 (bearish .518 Fib), and $0.00001128 (October 2022 high-day closing price).
Added resistance lies at $0.0000138 and $0.000015.
On the other side, the first strong support lies at $0.00000890 (.382 Fib). This is followed by support at $0.00000840 (.5 Fib), $0.00000790 (.618 Fib), and $0.000007 (Jan 2022 lows).
The momentum is in the hands of the bulls as the RSI continues to trend above the midline, indicating bullish pressure is dictating the market.
Why is $SHIB So Bullish Right Now?
The bulls are turning to $SHIB in light of the imminent Shibarium Layer-2 mainnet launch.
Rumors are spreading that the Shiabirum mainnet will be launched in mid-August during the Blockchain Futurist Conference in Toronto, Canada after Shytoshi Kusama recently paused the PuppyNet Telegram channel – raising speculation of an imminent launch.
According to data from Santiment, it seems that whales are driving the price of $SHIB higher, as whales in every cohort continue to see substantial increases;
The Shiabirum mainnet is set to expand the entire Shiba Inu ecosystem through a Layer-2 scaling solution of its own.
It’s expected to bring a wealth of new applications to Shiba Inu and provide more opportunities for utility for $SHIB holders.
Could These Meme Coins Also Pump Next?
While $SHIB starts to gear up for an epic rise, there are a handful of newly-emerging projects that traders believe can provide even higher returns with smaller sums of investment.
These low-cap opportunities are turning heads in the industry as they have unique themes with excellent marketing teams set to push the meme coins into a mainstream market.
In particular, XRP20 ($XRP20) is one of the golden opportunities as it taps into the Ripple Army by bringing the legacy $XRP token onto the Ethereum blockchain with upgraded features.
In addition, Shibie Coin ($SHIBIE) has started to gain popularity due to its individual charm, and Wall Street Memes ($WSM) is attracting whale attention as it raises over $22.5 million.
XRP20 Raises Over $1.7 Million in Under a Week as XRP Army Rushes to Upgraded $XRP
XRP20 is one of the stand-out opportunities in the meme coin space this week as the XRP Army rushes to get positioned in the token at the lowest possible prices.
The project started its presale just a few days ago and has already raised over $1.7 million in fundraising as it quickly crosses the soft cap milestone.
XRP20 is on a mission to reignite the passion of the XRP Army by delivering a new ERC-20 version of XRP with a unique staking utility and an innovative burning mechanism.
Described as the evolution of XRP – XRP20 is an excellent low-cap opportunity that introduces a user-focused and accessible version of XRP with cutting-edge features.
Bringing XRP onto Ethereum makes it easier to store, track, and trade relative to the $XRP token – making it prime material for exchanges and protocol integrations.
The tokenomics behind the project pay homage to the original $XRP token, with a total supply of 100 billion $XRP20.
The presale is selling for $XRP20, forty times cheaper than $XRP was at its all-time low. If you ever wondered what your life would have been like if you bought $XRP at the all-time low, then $XRP20 is your chance to find out.
40% of the total allocation is sold in the presale for $0.000092.
The remaining supply is reserved for staking rewards, dex liquidity, and burning – meaning the ecosystem is entirely in the hands of the community.
The token introduces a stake-to-earn utility that provides a passive income through on-chain staking.
In addition, the burning mechanism is set to make $XRP20 deflationary, with 0.1% of every buy and sell transaction being sent to a burn address.
With most $XRP20 expected to be locked in staking and the supply shrinking through deflation, experts believe $XRP20 has a strong potential to provide 10x returns quickly.
Investors are quickly rushing to this token – evidenced by the fact that it’s already hit its soft cap in just a few days.
With over half of the tokens already sold, new investors will need to be quick to get positioned or face the pain of paying higher prices later when the token trends on popular sites like DexTools.
Shibie Coin ($SHIBIE) Sees Increasing Attention as Investors Charmed by Unique Character.
Another fun meme coin gaining considerable popularity is Shibie Coin ($SHIBIE), which looks to tap into two huge fan bases by combining the unique charm of Shiba Inu with the timeless elegance of Barbie.
Shibie is the product of a saucy late-night encounter with Shiba Inu and Barbie – birthing the bad bombshell of the crypto world on a mission to create a fun-filled entertainment ecosystem and a tactical investment.
The token will debut on DEXs in the coming days with ambitious goals of getting major CEX listings. It will also release an AI-powered Telegram Bot to add another playful element to the ecosystem through amusing insights.
The ecosystem intends to break boundaries in the crypto space by introducing a new unconventional member to the meme coin industry.
$SHIBIE has a 10 billion token supply, with 60% of the supply allocated to the presale for $0.000167.
The remaining supply is reserved for DEX and CEX liquidity, marketing, and the team – covering all bases to foster a secure long-term project.
Shibie is looking for a mix of enthusiasm and sophistication in her community. She wants to inject a level of playfulness into a serious industry.
Overall, $SHIBIE is a unique meme coin that can provide 10x returns as the community grows.
Wall Street Memes Approaches $23 Million Milestone as Investors Can’t Seem to Get Enough.
The final token that’s expected to provide substantially higher returns than $SHIB is Wall Street Memes ($WSM).
Whales are rushing to this token as they’re intrigued by its long-term prospects after the project managed to cultivate a cult-like community of over 1 million followers.
The latest whale to enter bought $850,000 worth of $WSM by swapping 460 $ETH in one purchase;
The increasing confidence received from whales speaks volumes to the project, as they’re willing to take extraordinary risks for impressive returns.
The entire idea behind the project is to mock the traditional financial system and expose the greedy capitalists on Wall Street through meme-based humor on social media.
The memes have become so popular that they generate over 40 million monthly impressions.
They’ve even attracted the attention of Elon Musk – sparking speculation surrounding his involvement in the project;
In addition, the community-driven aspect of the token makes it an attractive investment. With a 2 billion $WSM supply – half is sold in the presale, with the other half reserved for community rewards and adding liquidity to centralized exchanges.
Speaking of exchanges, experts believe that $WSM is guaranteed a major tier-1 exchange listing as soon as it launches, as exchanges like Binance would look to take advantage of the enormous trading volume.
Overall, Wall Street Memes has the perfect balance of hype and FOMO to turn it into the next meme coin sensation on the market – capable of replicating the success of $PEPE.
With over 80% of the presale allocation already sold, investors must hurry to get positioned at presale prices or pay higher costs once the token hits major tier-1 exchanges across the industry.
The presale is expected to sell out in the coming days, so you need to act fast.
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