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Shiba Inu (SHIB) recently experienced a minor price pullback, leading it to dip below a significant support level that had remained strong during its recent consolidation. Within a short span, the value declined by 3.58%, settling at $0.00002 amidst a broader market downturn. The pullback brought a weekly loss of 14%, which is consistent with the retracement trend observed in top crypto coins such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Experts noted that despite Shiba Inu’s 20.40% decline this month, it still produced a strong return of 176.69%. This corresponds with the gains seen in other significant cryptocurrencies. The 24-hour trading volume of the memecoin increased significantly by 43.80% to $258.85 million, suggesting increased trader activity. Following the recent dip, they revealed a shift in SHIB’s price towards a downtrend, breaking its previous sideways momentum.
This shift occurred after the price of Shiba Inu fell below the crucial support level, which was $0.00002048, and had been held for a few days. The price quickly stabilized at this support level in a sideways pattern, with significant resistance at $0.00002109. Indicators such as the Relative Strength Index (RSI) (purple), which dropped from 55 to 10, support this shift in momentum. Strong selling pressure in the market is indicated by the significant decrease in RSI, which puts the market in an oversold situation.
According to the chart, SHIB’s 30-day has decreased, suggesting a possible turn toward a short-term downtrend. The 30-day MA trailing below the 200-day moving average (blue) supports this claim. Experts observed that the sudden selling pressure indicates significant activity among traders, even though there is a lack of data revealing major purchases from whales in recent weeks. Amid this market condition, another memecoin, Rebel Satoshi Arcade (RECQ), has gained widespread popularity in the crypto landscape, driven by its successful presale and standout features.
Rebel Satoshi Arcade (RECQ): Pioneering Crypto Transformation Through Web3 Community and Presale Success
Rebel Satoshi Arcade has emerged as a prominent figure among trending memecoins, offering investors exciting opportunities to enrich their portfolios in 2024. At the heart of its appeal lies its Web3 community-driven ecosystem, embodying principles of revolution, freedom, and unity. This new DeFi project encompasses an engaging games arcade featuring Play to Earn titles and rare non-fungible token (NFT) digital collectibles with multiple traits.
This new DeFi project believes in the power of unity and disruption, which has inspired the spirit of defiance against centralized controlled systems. It seeks to significantly impact the crypto environment by uniting and challenging centralized solutions. The governance token (RBLZ) and utility token (RECQ), both based on Ethereum, form the foundation of the ecosystem.
Rebel Satoshi Arcade aims to propel its value to a market cap of 100 million. The ongoing presale result drives towards actualizing this goal, with a recorded sale of over 582 million tokens. This advancement ranks RECQ among the top crypto coins and has had tremendous gains this year. Stage two is priced at $0.0044, enabling users to earn massively with minimal investment. With analysts forecasting a 525% surge in price upon launch, RECQ positions itself among the trending memecoins in 2024, like Shiba Inu.
Final Thoughts
With Shiba Inu breaking its long-term support, resulting in a decline amidst market uncertainty, now is the time to diversify your portfolio and embrace new opportunities. Join the revolution with Rebel Satoshi Arcade and become part of a community-driven ecosystem that challenges norms and celebrates freedom. With RECQ’s presale already surging, seize the moment to invest and secure your position in one of the top crypto coins of 2024. Invest in RECQ today and embrace the future of decentralized finance and gaming.
