Shiba Inu Aims for 30% Surge in Value, BlockDAG Stirs Anticipation as SUI Responds to Unlock Event
In the ever-evolving world of cryptocurrency, two digital tokens, Shiba Inu (SHIB) and BlockDAG's SUI, are currently making waves in the market.
Shiba Inu (SHIB) is displaying a promising technical setup, with a potential 30% upside due to a textbook cup-and-handle setup on its daily chart. If SHIB can break above the resistance level formed during the handle phase, a potential upward move towards $0.000025 may occur. The bullish case is further strengthened by increased on-chain activity, notably a surge in large whale transactions reaching six-month highs, indicating significant accumulation or redistribution.
However, SHIB remains technically range-bound, trading between roughly $0.00001108 and $0.00001175, with a persistent downtrend visible on monthly charts. The price has struggled to hold above the $0.00001175 pivot, and the overall structure shows seller dominance. This suggests that while a rally is possible, it is contingent on reclaiming key resistance zones.
On the other hand, SHIB faces significant resistance near the 100-day exponential moving average (~$0.00001330). Failure to break and hold above these levels could lead to consolidation in the $0.00001100–$0.00001180 range or a downside risk towards $0.00000950. The bearish trend from prior months may persist unless momentum shifts strongly.
Meanwhile, BlockDAG's SUI token has recently seen the release of 44 million tokens, valued at approximately $116 million, adding around 1.3% to the total circulating supply. The current outlook for SUI is more uncertain, as analysts are closely watching whether it can maintain key support levels following the token unlock. SUI's volatility could swing either way depending on market reaction to the token unlock.
In a bid to boost its presence, BlockDAG is launching a large crypto campaign this summer, including giveaways and a tiered ticketing system for BDAG bonuses. The presale for BlockDAG can be accessed at https://purchase.blockdag.network, and the official website for the project is https://blockdag.network. The hashtag for BlockDAG is #BlockDAG.
Investors interested in Shiba Inu and BlockDAG should keep a close eye on volume, price action around key resistance and support levels, and on-chain whale behavior for confirmation of a significant upward move. For Shiba Inu, this includes the $0.0000120–$0.0000138 range, while for BlockDAG, the official Discord server (https://discord.gg/Q7BxghMVyu) and Telegram group (https://t.me/blockDAGnetworkOfficial) are great places to stay updated.
As always, it's essential to remember that the cryptocurrency market is highly volatile, and investments should be made with caution.
[1] Source: https://www.tradingview.com/chart/SHIBUSD/WkTnz6JP-Shiba-Inu-Weekly-Chart/ [2] Source: https://www.tradingview.com/chart/SHIBUSD/WkTnz6JP-Shiba-Inu-Weekly-Chart/ [3] Source: https://www.tradingview.com/chart/SHIBUSD/WkTnz6JP-Shiba-Inu-Weekly-Chart/ [4] Source: https://www.tradingview.com/chart/SHIBUSD/WkTnz6JP-Shiba-Inu-Weekly-Chart/
- In the realm of crypto trading, Shiba Inu and BlockDAG's SUI tokens are currently making significant strides, with Shiba Inu displaying a potential 30% upside due to a cup-and-handle setup.
- Upon breaking the resistance level during the handle phase, Shiba Inu might potentially ascend towards $0.000025, hence making it an attractive investment option.
- However, investors should also be aware of the technical range-bound nature of Shiba Inu, with a persistent downtrend visible on monthly charts, suggesting a contingent rally that necessitates reclaiming key resistance zones.
- On the other hand, BlockDAG recently released 44 million SUI tokens, adding to the circulating supply, and analysts are closely monitoring SUI's ability to maintain key support levels following the token unlock.
- As the technology-driven world of finance continues to evolve, crypto enthusiasts can capitalize on the potential growth of tokens like Shiba Inu and BlockDAG, provided they conduct thorough analysis and remain cautious when investing in the volatile cryptocurrency market.
