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Memecoin ($MEME) welcomed the month with a bullish stance, gaining a massive 2,500% on 3 November as multiple cryptocurrency exchanges, including Binance, launched the altcoin. The impressive rally saw it peaking at $0.0245.
However, $MEME could not overcome $0.029, catalyzing wild price movements. It traded at $0.02652 at press time, following a 5.16% dip within the past day.
Memecoin should surpass $0.029 to record stable rallies. Meanwhile, its latest correction printed a descending trendline that MEME has failed to conquer three times within the past 48 hours. That suggests dominance by sellers.
MEME might extend its corrections until it cements the descending triangle barrier. Nevertheless, the altcoin remains vulnerable to market-wide fluctuations.
While Memecoin struggles to recover from its corrective stance, market players continue to look for the next 100X token in the market, evidently from new projects, including those in presale, attracting impressive investments.
Shiba Memu is among the emerging tokens in the themed cryptocurrency market. The project has received around $4.5 million from crypto enthusiasts within the last few months. That confirms investor confidence in Shiba Memu, presenting the altcoin as an asset with significant potential.
Why you may consider Shiba Memu (SHMU)
Shiba Memu presents itself differently from other tokens in the dog-themed world. It capitalized on the meme coins craze and the increasing artificial intelligence enthusiasts. Shiba Memu combines various technologies to ensure top-notch utility and increased returns.
Moreover, Shiba Memu’s future trajectory will likely mirror price actions in the overall crypto space. Analysts remain bullish about Bitcoin and altcoins.
Crypto rover trusts BlackRock’s spot Bitcoin exchange-traded fund is the catalyst digital coins need to skyrocket. He believes the leading crypto can surge for six consecutive months once the SEC greenlights a BTC ETF.
A broad-based rally will mean enormous cash flowing into the cryptocurrency market. Optimistic events, including a dovish Federal and the Bitcoin halving, support long-term uptrends for digital coins.
Altcoins with a promising future, including SHMU, will possibly skyrocket amidst such developments. You can learn more about Shiba Memu via their website.
The post Shiba Memu's potential as Memecoin ($MEME) enters correction mode appeared first on Invezz
