Despite a dull tone in the broader crypto market, Shiba Inu (SHIB) is showing positive performance as the only coin in the top 20 to be in the green over the last 24 hours. CoinGecko reports that SHIB has benefited from over $150 million in trading volumes in the past day. The coin is currently trading around the mid-point of its $0.0000082-88 weekend range, up about 2.5% on the day. SHIB has recently broken above key support-turned-resistance levels, confirming its near-term bullish trend. On-chain analytics firm Santiment reveals that wallets holding between 10 million and 100 billion SHIB tokens have accumulated $8 million of the coin over the last eight weeks. This buying from whales could further drive the positive price action.
With whale buying and a rally in similar meme coins like Dogecoin, the near-term outlook for SHIB appears positive. Technical analysis suggests that if SHIB can clear its former resistance levels, it could experience a swift rally towards late-May highs. This could result in near-term gains of about 18% for SHIB.
In addition to SHIB, investors may want to consider yPredict (YPRED), a new AI-powered crypto trading and market intelligence platform. With yPredict’s deep data analysis, the platform aims to help crypto investors discover the next explosive crypto easily. The project also offers AI-powered signals, breakouts, pattern recognition, and social/news sentiment features to traders and investors. Experts can earn recurring revenue by providing model predictions or data research as trading signals on the platform.
To fund the development of its platform, yPredict is running a presale of its native YPRED token. The presale has reached the milestone of $3.25 million and is in its seventh stage, with tokens selling for $0.10. However, the token is expected to list on major exchanges later this year for $0.12, offering potential paper gains of 20%. Interested investors should act quickly as the presale has a hard cap of $6.5 million, which could be hit in a few weeks based on recent pace.
It is important to note that investing in crypto carries risks, and this article is for informational purposes only and should not be considered investment advice.