- Shiba Inu (SHIB) recently experienced a 4% price surge, driven by its adoption in the travel industry and growth in the Shibarium ecosystem.
- Despite the positive developments, technical indicators suggest a potential bearish correction, prompting investors to consider the emerging Shiba Shootout (SHIBASHOOT) token.
Travel Industry Adoption Boosts SHIB
Shiba Inu (SHIB) has experienced a 4% surge in the last 24 hours, trading at $0.0000164 with a trading volume increase of 9% to $469.6 million. This uptick follows positive developments, including Block Travel, a global travel agency, starting to accept SHIB payments for flights, hotels, and more.
SHIB takes flight in the travel industry! Block Travel, a global travel agency, now accepts $SHIB for flights, hotels & more! ✈️ Let us know your dream Shiba travel destinations in the comments!
— Shib (@Shibtoken) July 8, 2024
Read about it below 👇🏼 https://t.co/PLkfxDo4WX
Additionally, Shibarium’s ecosystem growth, with new projects like K0 Finance DAO and Unification joining, has contributed to SHIB’s recent performance. However, the current price increase may just be the meme coin following broader market trends, as the recent recovery follows a significant bearish phase.
#Shibarium grows faster & stronger everyday!
— Shib (@Shibtoken) July 8, 2024
Welcome @K9finance
Welcome @UnificationUND https://t.co/8aLn200ZGt
Despite these positive developments, Shiba Inu has had a challenging week. The coin’s 4% drop over the week pales compared to Dogecoin’s 12% decline. Nevertheless, technical indicators suggest that the current surge might be short-lived.
Technical Indicators Signal Bearish Trends
The Bollinger Bands for SHIB have narrowed, and the price is closing in on the lower band, indicating a potential bearish trend. The Relative Strength Index (RSI) has also seen a significant drop from 63.71 to 47.20, suggesting increased selling pressure and a bearish market sentiment. As SHIB approaches the lower band, it hints at a possible price correction.
The crypto market’s volatility continues, with SHIB maintaining a strong support level at $0.0000160. However, if the bearish trend persists, this support could break, potentially bringing SHIB down to $0.0000150.
In light of these signals, investors might consider alternatives, such as the newly launched Shiba Inu-inspired token, Shiba Shootout (SHIBASHOOT).
Saddle up! #ShibaShootout is more than a #memecoin it's a Wild West crypto adventure! 🐾💥
— shibashootout (@shibashootout) July 1, 2024
Join Marshal Shiba & the Sharpshooters in Shiba Gulch for fun and excitement. 🤠🚀 pic.twitter.com/a3BFVx7u42
Shiba Shootout: The New Meme Coin on the Block
Shiba Shootout is a meme coin project that merges the popular dog meme with a Wild West theme, creating a unique and engaging atmosphere. The token’s presale began last week and has already raised over $580k. Set in Shiba Gulch, a fictional Wild West town, the project invites Shiba enthusiasts to participate in challenges, share memes, and enjoy the Shootout experience.
Crypto experts, including popular YouTuber Jacob Crypto Bury, are predicting significant potential for SHIBASHOOT, with some expecting it to be the next 10x meme coin. Currently priced at $0.0195, the token’s value is expected to rise in less than five days, giving investors limited time to get involved before the price hike.
As SHIB shows signs of an imminent correction, SHIBASHOOT offers a fresh and exciting investment opportunity for those looking to diversify their portfolios.
