How will Dogecoin (DOGE) and Shiba Inu (SHIB) act in 2024, and will this newcomer outdo them?

November 30, 2023 06:01 AM PST | By Invezz
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The cryptocurrency market is currently in a state of flux, with prices having retreated from recent peaks. However, the overall sentiment remains bullish, with analysts optimistic about the market’s momentum and fundamentals. Bitcoin, for instance, has seen a significant rally, increasing over 30% since early October, while Ethereum has also shown impressive growth. This positive trend is fueling interest in various cryptocurrencies, including Dogecoin (DOGE), Shiba Inu (SHIB), and the emerging ScapesMania.

As we look toward 2024, the burning question arises: will Dogecoin and Shiba Inu maintain their momentum, or will new contenders like ScapesMania surpass them?

To shed some light on this matter and help investors better understand the potential price trends of the noted meme coins in 2024, we’ve put together this piece. Read on to discover the possible paths for these coins and get a detailed analysis of ScapesMania’s unique proposition.

ScapesMania: the emerging contender in the crypto scene

It’s perfectly fine if you’re unable to predict which way a coin’s price will go. Actually, given the extreme volatility nature of the crypto market, no one can accurately forecast what lies ahead for this or that project. However, a closer examination of rising stars in crypto, like ScapesMania, can offer insights into their potential.

ScapesMania’s value proposition

ScapesMania empowers crypto enthusiasts to engage with and gain from the thriving casual gaming industry. With DAO governance, holders have a say about the project’s direction by voting on important decisions.

Converging the Web3 world and the gaming domain, ScapesMania aims to introduce a superior product and harvest rewards on multiple fronts. Purchase bonuses reaching up to 137%, incentives for holders, and expected post-listing ROIs of 400-500% add depth to the project’s appeal.

For additional details on the presale, visit ScapesMania’s website.

Nearing the $1M milestone

The community’s enthusiasm is palpable, with $914,000 raised to date from crowd/retail only. The solid tokenomics, sales stage bonuses, holder rewards, and anticipated post-listing returns could make ScapesMania a compelling and sustainable venture.

Explore the distinctive offerings of ScapesMania by visiting its official website, Twitter, and Telegram channels.

Dogecoin (DOGE): a meme coin with serious potential

Dogecoin price chart

Dogecoin has been in the spotlight due to its potential to break through a significant price barrier. Dogecoin’s transaction count has surged, reaching a peak of nearly 1.5 million transactions in 24 hours, outpacing both Bitcoin and Ethereum in this metric.

Currently, DOGE faces a major hurdle at $0.087, a crucial level marked by the convergence of the 0.786 Fibonacci level and both the 100-week and 200-week EMAs. Overcoming this barrier is deemed critical for DOGE’s future price movement. 

The current price range of DOGE fluctuates between $0.0583 and $0.0765, with a 10-day Moving Average of $0.0781 and a 100-day Moving Average of $0.0666. The support levels sit at $0.0303 and $0.0485, while the resistance levels are set at $0.0849 and $0.1031.

Shiba Inu (SHIB): the underdog with a burning ambition

Shiba Inu price chart

Shiba Inu, another popular meme coin, has seen a significant surge in its burn rate, increasing by 10,653.65% over the past 24 hours. However, despite raising market anticipation, this surge in burn rate has not yet translated into a price increase.

The current price range for SHIB is between $0.00000688 and $0.00000845. The 10-day Moving Average is at $0.00000819, and the 100-day Moving Average is at $0.00000772. SHIB’s support levels are at $0.00000442 and $0.00000599, with resistance levels at $0.00000913 and $0.00001070.

Looking into the future

ScapesMania

While some cryptocurrencies face an uncertain future, forecasting the trajectory of a presale project might be more straightforward. After ScapesMania’s presale concludes, the post-listing price will be $0.01 per token, surpassing the current value of the coin.

This discounted entry point offers an appealing incentive for early adopters. Embracing ScapesMania early offers a potential ROI of 400-500% once the coin in listed on various exchanges.

To explore the benefits of the ScapesMania project and participate in the ongoing presale, visit the project’s official website, Twitter, and Telegram.

Dogecoin

The forecast for Dogecoin is cautiously optimistic. Analysts suggest that breaching the $0.087 barrier could lead to nearly doubling DOGE’s price, targeting a high of around $0.14. 

However, achieving this mark is contingent on overcoming existing resistance and maintaining momentum in transaction volume and community engagement. The challenge lies in sustaining investor interest and utility growth, vital for long-term stability and growth.

Shiba Inu

As for prospects, SHIB faces both opportunities and uncertainties. The notable rise in its burn rate may create scarcity, influencing a price increase. The active Shiba Inu community, engaging in initiatives like a recent partnership with an Italian football club, could enhance visibility and adoption, impacting SHIB’s value.

Yet, the significant price drops following burning activities pose a noteworthy challenge. Still, market watchers expect a SHIB rally, emphasizing the token’s crucial need to balance its burning strategy with market dynamics.

Concluding thoughts

Approaching 2024, the cryptocurrency landscape features established players like Dogecoin (DOGE) and Shiba Inu (SHIB), alongside emerging contender ScapesMania. Dogecoin’s rising utility and community support present a pivotal moment for value growth. Shiba Inu, known for its burning strategy and community initiatives, faces a crossroads amid potential growth and market volatility. 

Meanwhile, ScapesMania, with a unique approach and growing interest, could pose a challenge to Dogecoin and Shiba Inu. The fresh gaming-related core idea, eye-catching presale figures, and other positive aspects can potentially add value to the token in the long run. 

To dig deeper into ScapesMania’s proposition, visit its official website, Twitter account, and Telegram channel.

The post How will Dogecoin (DOGE) and Shiba Inu (SHIB) act in 2024, and will this newcomer outdo them? appeared first on Invezz


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