Shiba Inu Price Set to Skyrocket: Get in Now Before it’s Too Late!

• Shiba Inu (SHIB) has experienced a 32% surge in the past 30 days due to the upcoming Shibarium, an innovative layer-2 scaling solution.
• SHIB is facing competition from new meme coins like Shiba Memu, which has raised over $1.7 million in its token presale.
• SHIB needs to break above the resistance at $0.00001 for it to reach its full bullish potential.

Shiba Inu Price Surge

Shiba Inu (SHIB) has seen a significant price surge of 32% in the past 30 days, with more potential for further growth on the horizon. The upward momentum is attributed to several factors, mainly being driven by the upcoming Shibarium – an innovative layer-2 scaling solution that offers unique benefits.

Competition From New Meme Coins

In addition to rival Dogecoin (DOGE), SHIB is also facing stiff competition from new meme coins such as PEPE and Shiba Memu (SHMU). The latter recently raised over $1.7 million in its ongoing token presale, intensifying the already competitive environment for SHIB and other meme coins.

Resistance At $0.00001

At press time, Shiba Inu’s trading price was $0.00000998 and it had demonstrated a rising trend of 19 % in the last seven days. However, for SHIB to make good its bullish potential, it must break above the major resistance at $0.00001 which is further supported by a 200-day MA line creating counterforce against any upward trend of SHIB’s price movements .

Technical Indicators

The value of SHIB has remained well above both 50-day and 200-day Moving Average lines reflecting strong demand from buyers in the market while MACD line crossing above signal line suggests further bullish pressure on market prices despite RSI moving closer towards overbought zone warning about possible reversal of trend .

Conclusion

Shiba Inu’s current price surge may be encouraging for traders and investors but breaking above $0.00001 would be necessary for it unlock its true bullish potential against intense competition from rival meme coins likeShiba Memu and Dogecoin .

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