L’relative strength index (purple) supports the idea that such a move should be positive, as the RSI dropped below 30 this morning. This means that the token is firmly entered into a oversold position and that, compared to recent price changes, the market has underestimated it.
Likewise, the 30 day moving average (orange) has fallen below its 200 day moving average (blue) over the weekend, implying it may change direction soon.
What emerges from the analysis as an element of lower optimism is that the trading volume of Shiba Inu remains fairly flat, around $400 million today, compared to $13 billion in early March. This indicates a sharp decline in interest in the tokenbut it is not an element that can lead to the conclusion that the market will continue to undervalue SHIB compared to its fundamentals.
For example, last week news broke that the developers of Shiba Inu have raised $12 million from Polygon Ventures and by other investors, with the financing intended for the development of a new level three network focused on privacy.
This action demonstrates how the development team continues to plan the future growth and evolution of $SHIB, in order to make it not just a meme coin as an end in itself but an increasingly rich ecosystem.
This is also evident from the presence of your DEX, ShibaSwapand from the creation of Shibarium, its layer two network that has already handled over 400 million transactions. Taking these utilities into due consideration, it is likely that the price of Shiba Inu will soon start to grow againpotentially reaching $0.000040 by the end of the summer.
Diversification with new high-potential altcoins
SHIB will remain a strong meme coin for a long time to come but, in the meantime, there are many other promising new altcoins entering the market. Including several pre-sale tokens, which can often see a big upside when first listed on exchanges.
And one of them, with the potential to have a great launch, is $DICEwhich is the native token of the Mega Dice crypto casino.
Launched in 2023, Mega Dice has quickly risen through the ranks to become one of the most popular online casinos in the cryptocurrency world, with its website offering over 4,500 games and numerous features.
Given its features, it therefore makes sense that it is launching a token based on Solana, which it has already raised more than $500,000 in its presale.
An extremely positive feature of $DICE is its role as a native token of a renowned online casino, which ensures high utility and growing demand, as it will be accepted as payment method for games on Mega Dice’s platform and will also provide a privileged access to selected games and promotions.
Another promising aspect is that it has a limited supply of 420 million tokens, while holders will also be able to stake it, thus reducing much of its available supply. This is why it is not difficult to hypothesize that it could enjoy growth of the constant price over time, in tune with the number of Mega Dice users.
The presale will continue for another several weeks and will concern 35% of the total supply of the token which, currently, is on sale for $0.069. Anyone interested in purchasing it can visit the Mega Dice website and connect your compatible wallet, such as Phantom, Trust or Solflare.
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