Shiba Inu Price Prediction: SHIB Soars 15% In A Week As It Raises $12 Million Via TREAT Token, And This Dogecoin Derivative Rockets Towards $10M - InsideBitcoins.com

Shiba Inu (SHIB) has experienced a 2% surge in the last 24 hours, boosting its weekly gains to over 15%, now trading at $0.00002721. This upward trend follows the project's successful fundraising of $12 million through the sale of its unreleased token, TREAT, to non-U.S. venture capital firms. TREAT, a utility and governance token for the team's Layer 3 blockchain built on Shibarium, has contributed to SHIB's price increase.

Shiba Inu Price Surge Fueled by $12 Million TREAT Token Sale, Nears Breakout Resistance

The Shiba Inu (SHIB) cryptocurrency has experienced a significant uptick in value, rising over 2% within the past 24 hours. This surge has propelled the meme coin's weekly performance above 15%, bringing its trading price to $0.00002721 as of 6:10 a.m. EST.

The price increase follows the successful sale of TREAT, an unreleased token from the Shiba Inu team, which raised approximately $12 million. This fundraising round was exclusively participated in by non-U.S. venture capital firms, including Animoca Brands and Polygon Ventures.

TREAT is intended to serve as both a utility and governance token for the team's upcoming Layer 3 blockchain, which is being developed upon the Layer 2 Shibarium protocol.

Shiba Inu's Price Break Out of Consolidation Range

Over the past 48 hours, SHIB's price has successfully escaped a medium-term consolidation channel that ranged between $0.00002083 and $0.00002398. Following this breakout, the meme coin has established an ascending trend line on the 4-hour chart, characterized by a series of higher highs and higher lows.

Traders are currently attempting to propel SHIB above the $0.00002832 resistance level. A 4-hour candle close above this threshold within the next 24 hours would provide a solid foundation for further short-term price appreciation, potentially leading to a rise to $0.00003140.

Conversely, a rejection from $0.00002832 could invalidate the bullish thesis, causing SHIB to fall below the recently formed trend line and potentially trigger a bearish trend reversal. This could lead to significant sell pressure, resulting in a retest of the $0.00002398 support level. A potential drop below this mark would signal a re-entry into the previous consolidation channel.

Shiba Inu's Technical Indicators Suggest Impending Correction

Technical indicators on SHIB's 4-hour chart exhibit a slight bullish bias but also hint at the possibility of an imminent correction.

The Moving Average Convergence Divergence (MACD) indicator remains in bullish territory, with the MACD line positioned above the MACD Signal line. However, the narrowing gap between these two indicators suggests a potential weakening of the bullish trend.

Additionally, the Relative Strength Index (RSI) crossed above its Simple Moving Average (SMA) line within the past 48 hours, indicating a temporary advantage for buyers. However, the RSI line has since declined towards the SMA line, signaling diminishing strength. Should the RSI cross below the SMA in the next 12 hours, it could signify a significant shift in momentum favoring sellers.

Dogeverse, a Multi-Chain Dogecoin Derivative, Gains Traction

As SHIB approaches technical resistance, momentum continues to build for the multi-chain Dogecoin derivative Dogeverse (DOGEVERSE). The meme coin's presale has recently surpassed the $9 million milestone and is on track to reach $10 million within the coming days as investors flock to acquire the crypto during this early stage.

Dogeverse's Cross-Chain Functionality

Dogeverse stands out as the first Dogecoin derivative to simultaneously operate across multiple blockchain networks. Housed on popular networks like Ethereum, Polygon, BNB Chain, Solana, Avalanche, and the Layer 2 network Base, DOGEVERSE enables a seamless transactional experience for token holders.

Unlike other meme coins confined to a single chain, DOGEVERSE grants investors the ability to participate in a vast array of decentralized finance (DeFi) protocols, regardless of the network on which they are deployed.

Furthermore, the cross-chain presence of DOGEVERSE mitigates the risk of network outages, such as those recently experienced by Solana, which could otherwise trap token holders' assets until network issues are resolved.

Dogeverse's Utility and Partnerships

Investors and token holders of DOGEVERSE will benefit from the ability to stake their holdings on the Ethereum network and earn annual rewards, without the need to swap out their tokens. Currently, Dogeverse offers a generous 117% APY to those who purchase and stake their tokens at this early stage.

As the fourth Bitcoin halving approaches, investors may be inclined to shift capital from the market leader into smaller meme coins, potentially providing a significant boost to DOGEVERSE's post-launch growth.

The crypto's high level of utility and its association with Dogecoin, the largest meme coin by market capitalization, further enhance its potential appeal among investors.

Purchasing and Staking DOGEVERSE

Interested buyers can acquire DOGEVERSE via the project's official website. The token is currently priced at $0.0003 and can be purchased using ETH, USDT, BNB, MATIC, BASE, AVAX, or credit card. Investors are advised to act swiftly, as the meme coin's price is expected to rise in the near future.

Those wishing to purchase and stake DOGEVERSE for a 115% APY may do so by visiting the project's website.