Shiba Inu marketing lead Lucie has stoked the community’s excitement with a teaser about the future of the project. On X, the platform that has replaced Twitter, Lucie dropped a tantalizing hint about what’s to come for the Shiba Inu ecosystem. Her messageshrouded in mystery, suggests a bullish future, while details are not made public.
Lucie teased: “I can’t reveal details, but if you have basic blockchain skills and understand the Shibarium process, you can anticipate what lies ahead.” Lucie continued by emphasizing the interest of major investors: “Major investors are now putting their money into the next big thing.” She also shared an intriguing take on investing: “A fun fact: real art is finding the gem before anyone else.”
She also expressed her confidence in the project’s trajectory and emphasized the team’s commitment: “I believe in our hard work and perseverance; Winning is the only option.” She mentioned Shibarium (BONE), LEASH, and SHIB in regards to the tokens within the Shiba Inu ecosystem, suggesting that one or more of these tokens will be central to what’s to come.
Concluding her message, Lucie reminded the community of the personal nature of investment goals and the relationship between investments and potential returns: “But remember: each of us has different goals, and how much you invest determines how much profit you reap.”
She encouraged setting realistic goals and wished everyone luck: “Set the bar realistically, and let’s see how it goes. Good luck to everyone on their journey with Shiba Ecosystem or any other project!”
Shiba Inu award provides important support
Moving to the technical analysis of Shiba Inu price action, the weekly chart reveals some critical insights. The chart below shows the SHIB/USD pair on a weekly time frame and provides a broad view of market sentiment and price trends.
The price is currently hovering above a crucial support level, as evidenced by the recent candles atop the Fibonacci retracement level of 0.236, at $0.00000878. This zone is critical because it represents a potential reversal zone that buyers have previously entered into.
The descending trendline drawn from the August 2022 highs was broken in December 2023, indicating a shift in market structure. However, price has since retested this line and is now acting as support.
The EMA (Exponential Moving Average) lines – 20 (red) and 50 (orange) – are of particular interest. Over the past three weeks, SHIB has been unable to close above the EMA50 ($0.00000975) and is currently trading below the EMA50 ($0.00000904). A weekly close above the latter could be a bullish sign.
Notably, the price has reached lower highs, which is indicative of a downtrend, but the recent support above the blue trendline and the 0.236 Fib could be a sign of potential bullish momentum.
The volume profile shows no significant spikes, indicating a lack of strong buying or selling pressure at current levels. The RSI (Relative Strength Index) is just above the center line at 54.71, which does not indicate an overbought or oversold market, which is in line with the consolidation story.
The key resistance levels to watch are the Fibonacci levels of 0.382 ($0.00001049) and 0.5 ($0.00001188). A break above that could mean 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
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