The cryptocurrency Shiba Inu saw a 7% increase in its value recently, reaching $0.00002995 with a trading volume of $2.2 billion. This surge brought SHIB past the $0.00003 price mark, showing a significant 211% rise in just 30 days, hinting at a potential return to its peak value of $0.00004563.
Despite initial gains, the cryptocurrency faced resistance and underwent a correction in line with the overall market trend. However, SHIB supporters rallied around lower support levels, driving the cryptocurrency above a downward wedge pattern.
With the market showing signs of recovery, Shiba Inu maintained a bullish outlook by staying above both the 50-day and 200-day Simple Moving Averages (SMAs). Technical indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) also pointed towards positive momentum.
On the other hand, there is a risk of bearish pressure that could lead to price retractions if the current momentum weakens. In the midst of these developments, Dogecoin20 is preparing for launch on April 20 after a successful presale that raised $10 million. This new cryptocurrency is expected to outperform its predecessors with features like environmental friendliness and on-chain staking.
The Dogecoin20 team has chosen April 20, International Doge Day, for its launch, offering a strategic investment opportunity. Interested investors can still purchase DOGE20 tokens at $0.00022 each using ETH, USDT, or bank cards before the presale closes.
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