Shiba Inu is not just a meme-inspired cryptocurrency; it has also attracted attention. SHIB was launched by anonymous creator Ryoshi in August 2020, inspired by Dogecoin, but seeks to carve out its own path. It operates on the Ethereum blockchain, making it compatible with various decentralized applications.
Ethereum's foundation also enables SHIB to have its own decentralized exchange projects like ShibaSwap. Notably, half of the initial trillion SHIB tokens were sent to Ethereum co-founder Vitalik Buterin. He donated most of the tokens to an Indian COVID relief fund and burned the remaining tokens, making Shiba Inu a focal point of attention.
What sets SHIB apart is its vision for the future. They are planning to create a dedicated NFT platform and a community-led governance system adopting the DAO model. This indicates that SHIB is striving to establish a lasting position in the crypto market, rather than just a fleeting reputation.
Solana (SOL)
Solana (SOL) is trading between $219.27 and $251.07, indicating stability in its current price range. The recent resistance level is at $264.92, and if this resistance is broken, the price may test the next resistance at $296.73. The recent support level is at $201.32, providing a buffer against declines. Over the past month, Solana's price has increased by 8.63%, indicating growth potential.
The 10-day simple moving average is slightly below the current price range, while the 100-day average is at $233.54. The Relative Strength Index is at 38.02, indicating that the token is approaching the oversold area. If buying pressure increases, this could indicate a potential upward trend.
Aptos (APT)
Aptos (APT) has fallen by 14.11% in the past week, with prices ranging from $12.79 to $15.83. The token is approaching its support level of $11.03, indicating a potential rebound. The Relative Strength Index (RSI) is at 30.87, indicating that APT is nearing the oversold region.
This could lead to prices rising to the resistance level of $17.12, significantly increasing from current levels. However, the MACD is negative at -0.55, indicating continued bearish momentum. Investors are watching to see if prices can break through the 100-day simple moving average of $14.02, which could signal a shift towards growth.
Cardano (ADA)
Cardano (ADA) has recently experienced a decline, with a weekly price change of -16.38%. The trading price is between $1.06 and $1.33, close to the recent support level of $0.92. The Relative Strength Index (RSI) is at 34.27, indicating that the token is approaching an oversold state. The MACD level is negative at -0.039, indicating a continued decline.
Nevertheless, the token has risen by 102.41% in one month, showing rebound potential. If the price maintains above the support level, it may target the recent resistance level of $1.46, potentially leading to an upward trend. Investors are closely watching these levels to assess Cardano's next move.
Dogecoin (DOGE)
In a recent tweet, top analyst Ali Martinez reiterated his bullish forecast for Dogecoin cryptocurrency. Martinez stated that he will continue to buy on dips because Dogecoin is still in the early stages of a bull market cycle. Additionally, he predicts that the price of Dogecoin (DOGE) may rise to $3 in the coming weeks. The chart shared by Martinez in his tweet shows that the meme coin is in an upward channel.
If Dogecoin reaches the upper part of the channel, its value may rise to $18. Meanwhile, Dogecoin's price has been trading between $0.3987 and $0.4758 over the past seven days. According to CoinMarketCap data, its price has dropped by 1.7% in the past week. However, it has increased by 82.4% in the past month. Additionally, the sentiment surrounding the cryptocurrency is bullish. The 14-day RSI is above the midpoint, which is a bullish signal.
The cryptocurrency market has always been a process of survival of the fittest! If you want to avoid being eliminated, you must make changes!
Every penny you earn is a realization of your understanding of the world; every penny you lose is due to your cognitive flaws. The greatest fairness in this world is that when a person's wealth exceeds their understanding, there are 100 ways for society to harvest you!
Until your cognition and wealth match each other. Waiting for a bull market is the most torturous!
But if you wait until then, you'll know what it means to endure hardship before experiencing sweetness. Everyone must not leave the market; the hard days are coming to an end, and a raging bull market is about to arrive!
