Lucie, Shiba Inu’s marketing lead, got the community excited with a teaser about the future of the project. On her X, a platform that replaces Twitter, Lucy dropped some interesting hints about what’s to come for the Shiba Inu ecosystem.she messageAlthough it is shrouded in mystery and details are not revealed, it hints at a bullish future.
Lucie teased, “I can’t reveal the details, but if you have basic blockchain skills and understand the Shibarium process, you can predict what will happen in the future.” I did. Lucy went on to highlight her interest from big investors, saying, “Big investors are now putting their money into the next big thing.” She also shared her interesting perspective on investing: “Fun fact: The real art is finding the gem before anyone else.”
She also expressed confidence in the project’s trajectory and highlighted the team’s commitment. Winning is the only option.” In terms of tokens within the Shiba Inu ecosystem, she mentioned Shibarium (BONE), LEASH, and SHIB, and how she believes one or more of these tokens will be central to what comes next. suggested.
To conclude her message, Lucy reminded the community about the personal nature of investment goals and the relationship between investments and potential returns. “But remember, we all have different goals, and how much we invest will determine how much profit we collect.”
She encouraged realistic goal setting and wished everyone good luck. “Set your goals realistically and see what happens. We wish you all the best on your journey with your turf ecosystem or other projects!”
Shiba Inu price holds important support
Moving on to the technical analysis of the Shiba Inu price trend, the weekly chart reveals many important insights. The chart below displays the SHIB/USD pair on a weekly time frame, providing a broad view of market sentiment and price trends.
The price is currently hovering above a key support level, as seen by the recent candlestick above the Fibonacci retracement level of 0.236 at $0.00000878. This zone is extremely important as it represents a potential reversal area where buyers have previously intervened.
The downtrend line drawn from the August 2022 high was broken in December 2023, indicating a change in market structure. However, price has since retested this line and it is now acting as support.
The EMA (exponential moving average) lines 20 (red) and 50 (orange) are of particular interest. Within the past three weeks, SHIB has failed to close above his EMA50 ($0.00000975) and currently he is trading below his EMA50 ($0.00000904). A weekly close above the latter could be a bullish sign.
Notably, the price is cutting off its highs and indicating a downtrend, but recent support above the blue trendline and 0.236 Fib could be a sign of potential bullish momentum.
There is no significant spike in the volume profile, indicating that there is no strong buying or selling pressure at current levels. The RSI (Relative Strength Index) sits just above the midline at 54.71, which does not indicate overbought or oversold conditions and is consistent with the consolidation narrative.
The main resistance levels to watch are the Fibonacci levels 0.382 ($0.00001049) and 0.5 ($0.00001188). Anything above these could indicate a stronger recovery. Conversely, if the price falls below the current support, the next level to watch would be $0.0000715.
Featured image from Shutterstock, chart from TradingView.com
Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell, or hold an investment, and investing naturally involves risk. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.