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Simon Chandler
Author
Simon Chandler
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SHIB has surged by 11% in the past 24 hours, jumping to $0.0000189 after Shiba Inu’s team announced a major update for its Shiboshi series of NFTs.
The meme token is now up by 4.5% in a week, and while it’s down by 3.5% in a month it sits on a nice 135% increase in the past year.
Its moves today come as the market as a whole rallies on the back of pre-election optimism, with traders seemingly expecting a victory for the more pro-crypto Donald Trump.
And such bullishness comes as the Shiba Inu team continue to work on valuable updates for its ecosystem, serving to make SHIB one of the fundamentally strongest meme coins in the market.
SHIB Set for Surge? New Shiboshi Updates Spark Investor Optimism
Posting on X, Shib.io’s market lead LucieSHIB announced that the coin’s development team were pushing through an important strategic update for Shiboshis, which originally launched in October 2021.
The update will introduce several new features, including more utility for Shiboshis, more rewards, more events and more integration with the wider Shiba Inu ecosystem.
There’s no specific timeline for this update, but it comes in addition to several other recently announced upgrades.
Yesterday also saw the launch of a bridge for NFTs between Ethereum and Shibarium, something which potentially widens usage of Shiba Inu’s layer-two network.
This week has also seen the rollout of ShibaSwap 2.0, which improves SHIB’s DEX by introducing fee tiers, liquidity options and more accessible rewards.
Again, such changes make Shiba Inu more attractive and accessible as an ecosystem, potentially boosting adoption and investment over the longer term.
And in the shorter term, SHIB is doing well today, with its chart suggesting a significant breakout.
For example, its 30-period moving average (orange) has formed a golden cross today, rising above the 200-period average (blue) in a sign of buyers overcoming sellers.
Similarly, SHIB’s relative strength index (purple) has risen above 70, another sign of strong buying pressure.
It’s also bullish that the meme coin’s trading volume has risen to its highest volume in almost a month, having touched $900 million today.
We could therefore see the SHIB price continue to rise as we approach the US election, which will take place on November 5.
Given that Trump’s polling has been improving, and given the perception that he will make the US more crypto-friendly, prices have been gaining steadily.
Assuming he wins, the SHIB price could hit $0.000030 by the end of November.
Upcoming Presale Tokens with Bullish Fundamentals
Shiba Inu looks like it could have a strong end to the year, but it won’t be the only meme coin to rally big in the coming months.
We’re also likely to see a strong showing from newer meme tokens, including presale coins, which can often surge when they list on trading platforms for the first time.
One coin with a good shot at doing this is Flockerz (FLOCK), a new ERC-20 token that has already raised more than $1.1 million in its increasingly popular sale.
Flockerz has been attracting investors by virtue of its status as a vote-to-earn token, which rewards holders for participating in governance votes.
Every single decision concerning its development and roadmap will be go to community vote, with more regular participants receiving more regular rewards.
In addition, FLOCK will also be open to staking, so holders could earn two income streams from the token.
It has a max supply of 50 billion FLOCK, with its protocol allocating 20% of this supply to the presale, as well as 25% each to staking and voting rewards.
Any investors interested in FLOCK can join its presale by going to its official website, where they buy the coin at a price of $0.0058862 per token.
Its sale will have 50 stages in total, so this price will rise considerably before the offering ends.
Investors should therefore hurry before the next price rise in two days, so that they can lock in the biggest potential gains.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
