Recent bullish news about Shiba Inu’s 5.7 trillion SHIB volume spike may boost SHIB’s price and indicate a potential bullish… Continue reading 5.7 Trillion SHIB Volume Spike Signals Potential Shiba Inu Price Rally and Bullish Trend for Altcoins
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Recent bullish news about Shiba Inu’s 5.7 trillion SHIB volume spike may boost SHIB’s price and indicate a potential bullish trend in the market.
Shiba Inu experienced a significant increase in its 24-hour volume of large transactions, indicating a rise in whale activity. This suggests higher potential for increased asset volatility. With the current bullish market conditions, the likelihood of an uptrend grows.
According to IntoTheBlock data from July 8, 2024, Shiba Inu’s large transaction volume spiked to 5.71 trillion SHIB. This notable surge indicates recent active participation from major holders. Such movements typically indicate strategic distribution or accumulation, heightening market interest and volatility.
Shiba Inu is currently recovering from its recent lows, trading at $0.00001964, as shown on the daily SHIB/USDT chart. It has crossed above the 50-day exponential moving average ($0.00001750) and is now nearing the 100-day resistance level.
Breaking out above these levels would indicate a bullish trend, potentially setting SHIB on course for higher targets. The uptick in trading volume contributes to the optimistic outlook. Increased involvement of large investors reflects growing confidence in the asset’s future performance, often preceding significant price movements.
Shiba Inu also benefits from the overall positive sentiment in the cryptocurrency market, bolstered by strong performances from major coins like Bitcoin. This favorable environment could provide SHIB with additional momentum to continue its ascent.
Exciting developments in the crypto space extend beyond Shiba Inu, positively impacting smaller tokens like Base Dawgz as well.
Base Dawgz (DAWGZ) has defied the bearish crypto trend and benefited from a bullish reversal. Currently in presale, the project has raised $2.5 million. Analysts expect significant gains when Base Dawgz starts trading on exchanges.
Currently, Base Dawgz is available at a fixed and discounted price of $0.006405. As the campaign moves forward, the presale price will increase, removing the chance to make big profits at today’s rates. Potential investors can visit our guide on how to buy Base Dawgz tokens here.
Additionally, Base Dawgz offers a refer-and-earn program, enabling community members to earn commissions by referring others to join the presale. Referrers can earn 10% of the token purchase amount, paid in USDT. Points earned from referrals can be exchanged for $DAWGZ once the campaign ends.
Base Dawgz understands that a strong community is crucial for meme coin success. They are launching a social rewards program where people earn points by sharing memes and posts about Base Dawgz on social media. These points can be traded for more $DAWGZ tokens.
This approach may explain why Base Dawgz now has 4,900 followers on X (formerly Twitter) and has achieved new milestones in its presale. As the community grows, the value of Base Dawgz tokens may also increase.
The ICO’s end date hasn’t been announced yet, so there is still time to invest. However, it’s in investors’ best interest to buy early while the price is low, as it will only increase as the presale continues.
Base Dawgz could become the next big meme coin on the Base blockchain. It plans to integrate with multiple blockchains, including Ethereum, Solana, Binance Smart Chain, and Avalanche, achieving true interoperability without relying on wrapped tokens.
Using Wormhole and Portal Bridge technology, Base Dawgz will allow community members to easily transfer funds between chains. This flexibility enables users to choose which blockchain their funds will be on, making it seamless to move money around based on their preferences.
Base Dawgz has allocated 1.69 billion $DAWGZ tokens (20% of the total 8.4 billion tokens) for staking rewards. Investors will receive 192,000 $DAWGZ tokens every hour for a year, allowing them to continually earn more tokens and potentially increase their gains.
Early buyers can earn an annual percentage yield (APY) of over 1,400%, though this rate will decrease as more investors join the staking pool. Currently, staking is only available on the Ethereum network, but the team plans to add Solana staking as part of its multi-chain strategy.
Base Dawgz recently responded to community requests to enable staking on Solana. The team acknowledged these requests and is working on making it possible. Staking was launched recently, unlike some other meme coin presales that offered it from the start.
Quick update from the $DAWGZ team 🪂
We've heard your questions about staking on Solana. We're actively working on it and brainstorming solutions. Due to BD's cross-chain nature, it’s a bit complex, but we're on it!
— Base Dawgz (@BaseDawgz) July 10, 2024
The developers are actively working on enabling Solana staking and brainstorming solutions. The cross-chain nature of Base Dawgz makes this more complex, but the team is committed to overcoming this challenge.
Staking will attract more buyers beyond those driven by hype. Base Dawgz has undergone rigorous auditing by the third-party blockchain security firm SolidProof.
The audit found no issues, indicating that $DAWGZ’s smart contract is safe and secure, reducing the risk of a rug pull and setting it apart from other new meme coins.
To participate in the $DAWGZ token presale, visit basedawgz.com.
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