Shiba Inu’s Price Jumps 20% on $2B Volume as New Coin Catches Viral Wave
Leading meme coin Shiba Inu has seen a +20% price surge amid inflows of $2Bn in trading volumes.
This article will provide an analysis of SHIB’s current price trends and look to see whether a newer AI crypto coin, SCOTTY, represents a more promising investment opportunity at this time.
Surging activity around Shiba Inu comes following an announcement from SHIB developers revealing that they’re working on adding an additional privacy layer on top of the recently launched Shibarium L2.
What is ZAMA solution for $SHIB?
👉 Enhanced security, privacy and data protection. #Shibarium will be the most secured layer 2 blockchain in the cryptoverse! pic.twitter.com/yuqK2mtT5o
— dhel*SHIB🛡️ (@dhelzkiie7) February 28, 2024
In collaboration with Zama (a prominent cryptography company), the unnamed network will make use of fully homomorphic encryption (which enables developers to use data on untrusted domains without decrypting it).
SHIB Price Analysis: As Shiba Inu Price Reels From Two Year High – Is It Too Late to Buy SHIB?
As price action recoils from the upper trendline, Shiba Inu is currently trading at a market price of $0.00001407 (representing a 24-hour change of +12.26%).
This comes as the fifth consecutive day of upside movements after SHIB mounted a major bounce from lower support at the 20 DMA (sat at$0.0000102) on February 24.
Indeed, the 20 DMA has become a key moving average to watch in recent months, forming both a key level of support and resistance.
Meanwhile, the 200 DMA reflects SHIB’s impressive shift into the upside of the trading channel, with gradual divergence now providing foundational support down at $0.00000875.
Some cause for concern is emerging from the RSI indicator, which has fired up to a strong overbought signal on the short-time frame, now reading at 89.56.
Whilst the MACD continues to reflect bullish momentum at 0.000000042 – suggesting rally pressure remains to the upside.
Overall, SHIB price analysis reveals the tail-end of an impressive rally move, which is now overdue for retracement and consolidation of recent gains.
To the upside, this leaves a limited target at the local high if $0.00001473 (a potential +3.88%).
While downside risk provides a potential support level at $0.00001187 (a possible -16.2%).
Consequently, on the short-time frame, SHIB price analysis grants a risk: reward ratio of 0.24 – a bad entry characterized by oversized downside risk.
While SHIB price analysis may not attract traders, the Scotty AI presale offers a safer option, benefiting from viral success within the AI narrative.
Discover: Seize 100X Gains In The AI Narrative With Scotty the AI
In an era where blockchain and artificial intelligence converge, Scotty the AI (SCOTTY) emerges as a trailblazing force, poised to redefine the digital investment realm.
While the crypto market has seen its share of highs, particularly with meme coins like FET exploding in recent days, Scotty the AI introduces an unparalleled investment avenue, especially for those looking to pioneer the next wave of crypto innovation.
Excitement buzzes around Scotty the AI as it hits a significant presale milestone, amassing more than $1,100,000 in funding!
💥Presale Update!💥
ScottyTheAi has raised $1.1M 🚀
Reaching another mile stone in early stages of presale.Well on our way to closing out presale and heading for that $100M marketcap.
Congratulation to all the early #Scottydogs in presale 👏
Buy Now: https://t.co/zRmy4g8hfW pic.twitter.com/eNWsPBErbM
— Scotty The Ai (@ScottyThe_Ai) March 1, 2024
This achievement underscores the community’s robust support and the project’s trajectory toward a $100M market cap.
What Is Scotty AI and How Does It Work?
Dubbed as the “Guardian of the Crypto Universe,” Scotty the AI is not just a narrative; it’s a powerhouse of practical, AI-driven solutions tailored for the crypto market.
Imagine engaging in seamless, secure token swaps with Scotty Swap or gaining deep market insights through ScottyChat.
These aren’t just features; they’re transformative tools designed to elevate your crypto experience.
With the SCOTTY presale heating up, now’s the time to seize the moment, the project’s commitment shines through the significant token allocation for public sale and enticing staking rewards, offering a golden opportunity for early participants to be part of something monumental.
Outpacing Shiba Inu: The Road Ahead for Scotty the AI
The journey ahead for Scotty the AI is meticulously planned, with a roadmap brimming with strategic milestones aimed at fostering a robust ecosystem.
From community initiatives and token launches to exchange listings and partnerships, every step is orchestrated to position Scotty the AI as a vanguard in the crypto market.
Scotty the AI stands at the confluence of AI and blockchain, offering a unique investment proposition with real value versus quickfire meme coins.
With a solid presale foundation and a vision that transcends traditional crypto offerings, Scotty the AI is an ideal choice for investors looking to diversify and innovate.
By aligning with Scotty the AI, you’re not just investing; you’re joining a movement set to shape the future of crypto.
Engage now to be at the forefront of this exciting new phase in the crypto evolution, where significant returns await the visionary.
Stay connected with the latest on Scotty the AI by joining SCOTTY communities on Telegram and X (formerly Twitter).
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.
