Shiba Inu Price Rises Another 33% as Meme Coins Continue To Explode

Joshua Ramos
shiba inu cloud money
Source: Watcher Guru

Unwavering excitement has swept the meme coin market as Shiba Inu jumps 33% today. Indeed, the token catapulted past the $15 billion market cap milestone.

But this monumental success is widespread across the market, with newer projects like Smog also seeing success. Currently, the token is up 80% this week, recently claiming an $80 million market cap.

Shiba Inu’s price has surged alongside the broader meme coin market. Currently, the meme coin is trading at $0.0000268, its highest since March 2022.

SHIB Surges to 2-Year High as Analysts Anticipate Macro Gains

SHIB is up 33% today, 177% this week and 196% this month. Its head-turning success has massively outpaced market leader Dogecoin, up 111% this month.

As the Shiba Inu price chart below shows, the recent pump follows the first time that Shiba Inu has found support on the daily time frame of 200 EMA.

This illustrates a significant shift in momentum. Subsequently, it has likely signified the end of Shiba Inu’s bear market. Therefore commencing the next bull rally.

The move has stoked tremendous excitement among Shiba Inu community members and analysts. In a recent tweet, prominent X account SHIB Bezos speculated that Shiba Inu could excel toward its ATH. 

He wrote, “SHIB’s prices remain BROKEN OUT HERE, and based on the previous breakout pattern that is highly similar to this one, an 810% run to a new all-time high is likely.”

SHIB Bezos displayed a price chart illustrating a falling wedge breakout on the weekly time frame. This chart pattern is typically followed by a move to the upside, a notably bullish factor given the chart’s high time frame.

Meanwhile, TradingView analyst Alan Santana also anticipates a long-term uptrend for Shiba Inu. Santana argues that a symmetrical triangle breakout will result in a new ATH in the coming months.

“Shiba Inu’s major bullish breakout this week brought in the highest trading volume weekly since late 2021, the previous bull-run phase.”

He continued, “Looking at this type of action, the first time volume goes so high after so long, is indicative that a new market cycle is getting started. The super high volume is also supported by a very strong RSI. The chart is easy.”

The analyst expects SHIB’s rally to push to $0.000056. Moreover, they expect a longer-term price target of $0.00014, a 418% gain from its current price.

While this represents a solid gain for SHIB, it presents significantly less upside potential than the last cycle. This is in large part due to its staggering $16 billion market cap.

With that in mind, traders seeking high-potential alternatives should identify newer, lower-market-cap meme coins.

Multi-Chain Smog Token Surges 80% and Draws Hype With Airdrop 

One fitting project is Smog, a multi-chain meme crypto that holds an $80 million market cap and has pumped 80% this month.

Enter the dragon’s lair with Smog, a new dragon-themed meme coin that spreads its wings across the Solana and Ethereum blockchains.

As a fearsome beast, Smog reigns over the meme coin market. It aims to incinerate all his foes while running the “greatest airdrop of all time.”

Its multi-chain approach provides vast exposure to liquidity, a key enabler in its successful performance. Currently, Smog is up over 80% this week, 130% since records began on CoinMarketCap in February, and over 7,000% since records began on DEXScreener.

Yet, its $80 million market cap crossed with multi-chain functionality presents massive upside potential, with countless meme projects now boasting multi-billion dollar valuations.

But another factor causing Smog to stand out is its widely-anticipated airdrop. With 35% of its total supply allocated to the giveaway, community members have frenzied to secure their share.

Tasks are outlined on the project’s Zealy page, inviting users to complete quests to increase their odds of eligibility. However, holders gain their initial entry by simply buying and holding the Smog token.

In a bid to foster long-term success, Smog also offers a staking mechanism, providing a 42% APY. So far, 16,967,988 tokens have been deposited in the staking dashboard, illustrating a firm belief in its long-term potential from community members.

Currently, those who buy Smog from its website will receive a 10% discount. But this offer ends soon, so they must act fast.

Visit Smog Website