Shiba Inu (SHIB) has faced price rise challenges in recent weeks, but is now trading at $0.00001829, which marks a 4.25% increase from its previous close. This short-term rise has made the overall market sentiment bullish, with a majority of investors expressing optimism about the cryptocurrency’s future prospects. However, a closer look at its performance across different timeframes reveals mixed signals, with some suggesting potential downward pressure.
Bearish Short-Term and Neutral Long-Term Outlook for SHIB
On the short term, SHIB shows signs of a bearish trend, with both the 50-day and 200-day moving averages trending downward. The 50-day moving average’s decline suggests that bearish momentum may persist in the near future.
In the daily timeframe, the outlook becomes more neutral to bearish. The 50-day moving average, currently positioned below the price, could act as resistance, making it harder for SHIB to break through. On the other hand, the 200-day moving average is on an upward trajectory, signaling potential long-term bullishness if the price manages to break past resistance levels.
The weekly chart, however, offers some hope for bulls, showing a bullish bias. The 50-day moving average, below the current price, is rising and may serve as support. Additionally, the 200-day moving average has been steadily increasing since July 2024, strengthening the bullish trend over time.
Despite these bullish signals, the bears still hold some influence over the market. A critical support level of $0.00001750 remains under scrutiny. If SHIB falls below this threshold, traders could expect a further decline toward the $0.000017 area. A close near the low of the weekly bar could signal continued bearish pressure, with the nearest support level at $0.00001550.
PEPETO Ready to Lead Memecoin Market
While SHIB grapples with resistance points, a new meme-inspired cryptocurrency, Pepeto, is making waves in the crypto space. Built on the Ethereum blockchain, PEPETO has quickly garnered attention for its unique blend of humor and utility, setting it apart from many other memecoins.
A New Year’s Message from the God of Frogs
— Pepeto (@Pepetocoin) January 1, 2025
As the New Year begins, the God of Frogs, Pepeto Himself, shares a message of triumph and faith for the loyal Pepeto Army:
The Plan Unfolds: The roadmap progresses flawlessly, as foretold. Every milestone has been achieved, and the… pic.twitter.com/zCmy1bTRQY
Unlike other memecoins that may struggle to offer tangible value, #PEPETO aims to provide long-term growth and stability. The project is designed with key features that combine technology optimization with a focus on sustainability—two areas where other tokens like #Pepe have often fallen short.
This approach has garnered the interest of investors looking for a more solid foundation in the often volatile memecoin market.
With a strategic token distribution plan and a revolutionary roadmap in place, PEPETO is positioning itself to become a leading force in the memecoin sector. Its focus on liquidity, staking, and sustainable growth could make it a strong contender for investors seeking both humor and real value in their investments.
While Shiba Inu faces challenges in overcoming resistance points, PEPETO is gaining traction, offering a fresh perspective in the memecoin space. With over $4 million raised in its presale, the new meme token, now priced at $000000107, is quickly becoming one of the most talked-about projects on social media platforms like X and YouTube.
In a market often dominated by hype and volatility, #Pepeto promises investors long-term growth making it a solid investment for those looking to diversify their crypto portfolios.
About Pepeto
Pepeto is a cutting-edge cryptocurrency project blending the playful spirit of memecoins with a powerful utility-driven ecosystem. It features a zero-fee exchange, a cross-chain bridge for seamless swaps, and staking rewards designed to support the next generation of tokens.
Media links
X (Twitter): https://x.com/Pepetocoin
YouTube Channel: https://www.youtube.com/@Pepetocoin
Telegram Channel: https://t.me/pepeto_channel
Instagram: https://www.instagram.com/pepetocoin/
TikTok: https://www.tiktok.com/@pepetocoin
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