Since Shiba Inu (Shib) tends bear, the attention for Wall Street Memes Token increases

Since Shiba Inu (Shib) tends bear, the attention for Wall Street Memes Token increases

Shiba Inu (Shib) investors are preparing for a downward shaft, since several market analysts are now a downturn for this popular meme predict.

Shib is now 45 % lower than the high of February 4 - the price diagram indicates that another downward trend is very likely.

But in the middle of the rising storm around Shiba Inu, a new meme dives on Coinwall Street Memes (WSM), has literally stepped onto the scene and has collected over $ 1.1 million in less than four days.

further downward movements for Shib possible because the declining mood prevails?

At the time of writing this article, Shib moves around the $ 0.00000870 mark. According to Coingecko, the token has a market capitalization of just over $ 5.1 billion-an incredible $ 35 billion less than during the bull market in October 2021.

The value of Shib has dropped steadily since then, with the token now trading 89 % under its all -time high.

To pour salt into the wound: Shib has only increased by 7.7 % since the beginning of 2023, in stark contrast to the impressive rally by Bitcoin (BTC) by 67 %.

In the short term, it does not look like the situation will improve. Data from Coinglass show that the long/short ratio (24 hours) for Shib derivatives on most exchanges is now below 1.

This indicates that there are more short positions than long positions-which is generally interpreted as a bearish signal.

A large part of the pessimistic mood around Shiba Inu is driven by the broken promise of the development team with regard to the Shibarium scaling solution and the planned meta personation of the project.

Both plans have been postponed several times and there is still no specific start date - which means that investors patience is now in the end.

Shib Bulls prepare for a descent to 0.0000078

taking these factors into account is one of the likely course developments for Shiba Inu-which will represent a dark balance for Shib bulls.

Shib is now traded significantly below the 20-day, 50-day and 200-day emas (exponential moving averages), which significantly underlines the declining trend of the token.

Tradingview

ominous is the huge bear flag on the daily time frame - a pattern that normally triggers a rapid drop of price.

If there is a decline, the likely goal will be the level of $ 0.0000078. This level was kept as support in June and December 2022-and Shib owners will hope for a similar reaction if this scenario occurs.

Should Shib fall into this support zone, this would mean a decrease of 10 % compared to today's price.

Wall Street Memes burst on the scene and incorporate $ 1.1 million within a few days

Despite the pessimistic views for Shiba Inu, there is a glimmer of hope Coin lover - Wall Street Memes (WSM).

supported by a huge community and attractive TOKENOMICS, the Wall Street Memes project has collected over $ 1.1 million in less than four days.

One of the main reasons for this immediate success is the massive social media presence of Wall Street Memes, which amounts to over one million “degenens”.

The official Instagram account of Wall Street Memes has more than 523,000 follower, while that of the project

This extensive community even attracted the attention of some great sizes, including the Tech-Mogul Elon Musk captivating with Wall Street Memes on two different occasions.

An important reason for the colossal size of the community is the groundbreaking Wall St Bull NFT collection, which was sold out in 2021 within 32 minutes.

Nevertheless, the Wall Street Memes team continuously shifts the limits of innovation and recently released a new NFT collection in the Bitcoin network-and uses the popularity of Bitcoin Ordinals.

All of this has led to a great enthusiasm for the WSM token, which should enable the owners to benefit from the growth of the Wall Street Memes community.

At the moment level 2 of the 30-stage advance is running, which means that investors WSM can buy $ 0.0256. However, the token price will gradually rise between the steps.

Overall, Wall Street Memes provides a convincing alternative to Memes Dar Coin fans all over the world - and if the early dynamics of the project is an indication, things are just starting.

Visit the pre -sale for Wall Street Memes