He price of Shiba Inu (SHIB) it has barely moved in the last 24 hours, with its current level of $0.00000753 representing a 1% loss over the past week.
However, SHIB has risen 14% in the last 30 days, with its latest move coming as a number of pro-Ukrainian celebrities have been using Shiba Inu memes to combat Russian misinformation online, even Estonia’s prime minister recently tweeted a Thanks to the network responsible for such memes.
However, such use of Shiba Inu-related memes isn’t really new, as the practice goes back at least a year, meaning it’s unlikely to have a substantial impact on the price of SHIB.
But with the ecosystem still awaiting the full launch of the layer two Shibarium network, the meme coin could still be in line for big rallies in the not too distant future.
Shiba Inu Price Prediction As Pro-Ukraine Internet Celebrities Use Shiba Memes To Combat Russian Propaganda: What’s Going On?
Despite the lack of real movement today, the SHIB indicators are in a comparatively good position, with the possibility of further gains.
The meme token’s 30-day moving average (yellow) has begun to rise steeply above its 200-day moving average (blue), indicating some breakout potential.
On the other hand, SHIB’s Relative Strength Index (purple) is hovering around level 50, meaning it could go either way.
The uncertainty is further heightened by the fact that the coin’s medium-term support level has fallen slightly in recent weeks, meaning that SHIB may not be able to withstand further declines in the near future.
Still, the medium to long-term future of SHIB looks a bit more positive, with the aforementioned trend of using Shiba Inu memes likely having the effect of increasing the visibility and popularity of the meme token.
As noted above, Estonian Prime Minister Kaja Kallas recently used a tweet to pay tribute to the NAFO (North Atlantic Fellas Organization), a decentralized network of bullshit cartels that have been flooding Russian propaganda attempts with shiba inu meme
It is possible that this level of recognition for NAFO could help SHIB to make some gains, but it should be underlined that NAFO has been active for over a year, so it may be rash to bet heavily on a big inbound rally.
SHIB’s more distant future still looks good though, with Shibarium making progress on the path to its full public release.
Shibarium is a layer two network for Shiba Inu that will make it cheaper (and faster) to use the latter, something that could help boost the SHIB ecosystem in the long run.
Of course, the effect is likely to be gradual, so anyone hoping for a SHIB surge may be disappointed.
The meme token could be expected to hit $0.000010 in the coming weeks, before the year approaches $0.000010.
New high potential meme token
It is arguable that SHIB has been overshadowed this year by the wave of new meme coins that the market has seen in recent months, and it seems that said wave will not stop anytime soon.
While many of the new meme tokens have been more or less junk coins or outright scams, some have shown real sustained growth.
This is particularly the case for those that have had pre-sales, which have allowed some of the best new meme tokens to establish a strong community and following before listing on exchanges.
A very new and promising example of such a token is Mr Hankey (HANKEY), an ERC-20 token that has taken the concept of ‘shitcoin’ quite literally.
Its pre-sale will go live tomorrow, with the coin having a total maximum supply of 1 billion, of which 40% will be up for grabs.
Promising about Mr Hankey is his meme, with the Mr Hankey character not only lifted from the ever-popular South Park, but also benefiting from several eminently repeatable and viral catchphrases (eg ‘Hello!’).
This means that it arguably has a better chance of spreading than other new meme tokens, with an early sign of this provided by the fact that His Twitter account already accumulates more than 4,000 followers within the first 24 hours of its shelf life.
Investors can join his sale when it opens tomorrow by visiting Mr Hankey’s official website and connecting their software wallets.
The sale will be capped at 400 million HANKEY, with the coin likely to be listed on exchanges by the close of Q3 2023.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.
