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###SHIBUSDT #HotTrends #BTC Shiba Inu (SHIB) Price Forecast: Will It Outperform Bitcoin? In Brief Shiba Inu's price surged 267% in 10 days, hitting a Fibonacci resistance at $0.000037, potentially signaling a new bullish cycle if surpassed. Despite bullish tendencies in weekly and daily charts, caution is advised due to heavily overbought conditions, with potential corrections finding support at $0.00003 and $0.00002. Mixed signals in the 4H chart show a bullish trend confirmed by a golden crossover but with bearish MACD lines, suggesting a decisive break at $0.00003 or $0.000037 for SHIB's direction. The price of Shiba Inu (SHIB) has surged by over 226% against BTC in just ten days, even as BTC reaches new all-time highs. This significant increase reflects a broader trend seen in many other memecoins, suggesting a possible rise in the popularity and influence of memecoins in the current market landscape. Shiba Inu Surges 267% in 10 Days: What’s Next? The price of Shiba Inu Coin has surged by approximately 267% in the last ten days, reaching a significant Fibonacci resistance level at around $0.000037. If SHIB breaks this resistance, the next notable Fibonacci resistance will be around $0.000057.

###SHIBUSDT #HotTrends #BTC Shiba Inu (SHIB) Price Forecast: Will It Outperform Bitcoin?

In Brief

Shiba Inu's price surged 267% in 10 days, hitting a Fibonacci resistance at $0.000037, potentially signaling a new bullish cycle if surpassed.

Despite bullish tendencies in weekly and daily charts, caution is advised due to heavily overbought conditions, with potential corrections finding support at $0.00003 and $0.00002.

Mixed signals in the 4H chart show a bullish trend confirmed by a golden crossover but with bearish MACD lines, suggesting a decisive break at $0.00003 or $0.000037 for SHIB's direction.

The price of Shiba Inu (SHIB) has surged by over 226% against BTC in just ten days, even as BTC reaches new all-time highs.

This significant increase reflects a broader trend seen in many other memecoins, suggesting a possible rise in the popularity and influence of memecoins in the current market landscape.

Shiba Inu Surges 267% in 10 Days: What’s Next?

The price of Shiba Inu Coin has surged by approximately 267% in the last ten days, reaching a significant Fibonacci resistance level at around $0.000037. If SHIB breaks this resistance, the next notable Fibonacci resistance will be around $0.000057.

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##RNDRUSDT ( Render ) - Price Faces Resistance in Bid to Reclaim All-Time High Render’s price has grown by 10% in the past 24 hours amid the general market rally. This has led the token’s price to attempt to break above a long-term resistance level. However, this may be challenging as the bears do not appear ready to relinquish market control. Render (RNDR) is poised to break above the upper line of an ascending triangle in continuation of its most recent uptrend. Logging a 10% price hike in the last two days, the bulls can push above this resistance level if the current general market trend is sustained.  Render May Face Some Difficulties  Render’s double-digit price rally in the past 24 hours may witness a pullback as some of the token key indicators showed that bearish influence remains dominant. At press time, the dots that make up RNDR’s Parabolic SAR indicator exceed its price. This indicator identifies potential trend direction and reversals in the token’s price. When its dots are above an asset’s price, the market is said to be in decline. This indicates that the asset’s price has been falling and may continue to do so. Market participants interpret this as a sign to exit long positions and open short positions. Also, the value of RNDR’s Chaikin Money Flow (CMF) was -0.01 at the time of writing. This indicator measures money flow into and out of the RNDR market.A bearish signal, indicating a weakening uptrend or a developing downtrend, appears when its value falls below zero RNDR Price Prediction: Negative Sentiments Meet High MVRV Ratio The poor sentiment currently trails RNDR is depicted in its negative weighted sentiment spotted on-chain. Subsequently, at -0.29 at press time, this metric shows a dominant negative bias in the online discourse surrounding the asset.This negative sentiment comes at a time when the token’s Market Value to Realised Value (MVRV) ratio is high. As of this writing, this was 231.78%A high MVRV ratio already suggests a potential correction if the price becomes unsustainable. If projection is overturned buy
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#PEPEUSDT ( PEPE*1000 ) - How PEPE Price Hitting New All-Time High Could Lead to Major Corrections PEPE price marked a new all-time high over the past day but could now be looking at a fall. The MVRV ratio shows that PEPE is in the danger zone, which historically has observed correction. The Network Realized Profits further substantiates the bearish outlook, as profit-taking is likely. PEPE’s price continued to please its holders, as the meme coin not only led the rallying altcoins but also marked a new all-time high in the last 24 hours. However, this could trigger the altcoin observing a decline as investors look primed to sell. PEPE Investors Close to Selling Following the PEPE price rise, the meme coin looks prepared to see some major selling as the altcoin investors realize massive profits. According to the Network Realized Profit/Loss indicator, the overall gains have been inclining for the past month. Realized profits are a sign that the investors are selling, and this could now intensify as the meme coin hits a new ATH. This seems to have saturated the bullishness and may lead to heavy selling.Secondly, the Market Value to Realized Value (MVRV) Ratio also hints at profit-taking. The MVRV ratio monitors investor profits and losses. With PEPE’s 30-day MVRV at 38%, indicating profit, selling may ensue.  Historically, the meme coin has undergone corrections at MVRV levels of 15% to 36%, marking it as a danger zone. PEPE is already above this level, which signifies stronger profit-taking potential.Should this happen, the altcoin could note a fall below key PEPE Price Prediction: Awaiting a Dip PEPE price market the new ATH of $0.00001430 after rising by 51% in the last two days. At the time of writing, the altcoin is not exhibiting any signs of a decline, but considering the above indicators, it could occur soon. The most likely outcome would be a fall to $0.00001251, which marks the 78.6% Fibonacci Retracement. Intense selling could extend this decline and PEPE could dip to the 61.8% Fib line at $0.00001146.
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#NEARUSDT ( NEAR Protocol ) - Market Cap Nears Yearly Highs: Price Reacts NEAR's market capitalization is nearing an all-time high, reflecting significant interest and investment. A strong upward trend indicates bullish momentum, but the $9 billion mark presents noticeable resistance due to repeated selling pressure. NEAR's price remains above the Ichimoku Cloud, indicating sustained bullish momentum and a positive market outlook. The market cap of NEAR is approaching its yearly high, reflecting significant interest and investment in the token. A noticeable resistance zone exists around the $9 billion mark, which has been tested multiple times, suggesting strong selling pressure at this level. NEAR Protocol Market Cap Analysis The market cap of NEAR is approaching the key resistance of $9 Billion, which was hit in mid-March. This indicates significant interest and investment in the token. The chart illustrates a strong upward trend, which suggests bullish momentum.There is a noticeable resistance zone around the $9 Billion mark. This area has been tested multiple times, which also indicates strong selling pressure. Near Is Trading Above the 1D Ichimoku Cloud and Tenkan The price action is currently above the Ichimoku Cloud and the Tenkan Line (in Red), suggesting a bullish trend. Conversely, the cloud itself is green, which reinforces the bullish outlook. NEAR Price Action Sustains Above 4-Hour Ichimoku Cloud Similarly to the daily timeframe, the price action remains above the Ichimoku Cloud, indicating sustained bullish momentum. Key mid-term support levels are $7.5 (0.5 Fibonacci retracement) and $7.3 (0.618 Fibonacci retracement), which have provided strong support in recent price action. Immediate resistance is observed at $8 (0.236 Fibonacci retracement). furthermore, the RSI (4H) is currently above 50, suggesting a neutral sentiment. Historically, the 50 level has acted as major support, which could indicate a potential rebound to 70.This technical analysis of NEAR Protocol (NEAR) suggests a bullish outlook in the daily and 4-hour timeframes.
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#SHIBUSDT ( Shib*1000 ) - Bullish Breakout at Risk of Fading Shiba Inu’s price was breached through the two-and-a-half-month-old downtrend line, but it faces bearish cues. The meme coin craze can be seen fading rather rapidly, with the transaction volume falling to February lows. The asset's adoption rate is also at an eight-month low, suggesting a lack of interest from potential investors. Shiba Inu’s (SHIB) price is not exhibiting the most impressive performance despite breaking out of a downtrend. The investors’ lack of support is a concern, and it could lead to the meme coin losing the rally. Shiba Inu Investors Remain Skeptical Shiba Inu’s price action has disappointed its investors, resulting in SHIB holders stepping away from participating in the network. This is evident in the transaction volume. The average daily transaction volume has fallen from $169 million in April to $38 million in May. This is a 77% decline, which is largely due to the waning meme coin craze, which resulted in the surge of tokens such as dogwifhat (WIF) and Pepe (PEPE). Furthermore, the lack of optimism observed in investors extends to those who have yet to join the network. This is visible in the adoption rate, which is presently at an eight-month low.  The adoption rate measures the rate at which new addresses are formed on the network. This assesses whether the project is losing or gaining traction in the market. In the case of SHIB, this adoption rate is at 29%, suggesting only 29% of all active addresses are new investors. While this is not the worst, it is not the best either, given that Shiba Inu has seen better participation from new investors in the past
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#LNKUSDT ( Chainlink ) - Set for Correction as Rally Overextends Bullishness Chainlink’s (LINK) price broke out of the consolidation and marked a monthly high of less than a week Chainlink (LINK) Set for Correction as Rally Overextends Bullishness May 20, 2024 by Aaryamann Shrivastava, Ryan James In Brief Chainlink's price has risen by almost 30% in the span of just five days, trading close to $17. The RSI above the 70.0 threshold shows that LINK has been overbought during this rally. The MVRV ratio also suggests potential profit taking at the hands of LINK holders. Chainlink’s (LINK) price broke out of the consolidation and marked a monthly high of less than a week. However, this may lead to LINK holders moving to sell their holdings before they lose the chance to secure their gains. Chainlink Investors May Book Profits Chainlink’s price is $16.8 after rising nearly 30% this past week. However, this resulted in the altcoin hitting saturation, historically synonymous with corrections. This is evident in the Relative Strength Index (RSI). RSI is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with values above 70 indicating overbought conditions and below 30 indicating oversold conditions. Currently, the RSI is above 70, suggesting LINK is overbought on the 12-hour chart. This happened last in February, after which the rally took a break. The same could be the fate of Chainlink’s price as well. Plus, it could face additional discomfort from its investors should it move to sell, which is a probable outcome. This is because the Market Value to Realized Value (MVRV) signals profit-taking. The MVRV ratio tracks investor gains/losses. Chainlink’s 30-day MVRV of 16% suggests profit, possibly prompting selling. Historically, LINK tends to correct at MVRV levels of 10%- 20%, labeling this a risky zone.
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