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Shiba Inu’s Price Surges 7% Amid Bullish Market Recovery, Dogecoin20 Set for Explosive Launch Following $10 Million Presale

The Shiba Inu cryptocurrency experienced a 7% increase in its value over the last 24 hours, with its price reaching $0.00002995 at 03:51 a.m. EST, based on a trading volume that saw a 42% rise to $2.2 billion.

This surge comes as SHIB successfully breached the $0.00003 price mark, boasting a 211% rise within just 30 days, hinting at a potential rebound to its annual peak of $0.00004563, recorded on March 5.

March was a significant month for Shiba Inu, marked by considerable gains and a stark increase to a resistance level at $0.00004568.

However, facing resistance led to a correction, mirroring a broader market downtrend.

Despite this, SHIB supporters have rallied from lower support levels, notably around $0.000020, propelling the cryptocurrency above a declining wedge pattern.

This movement is backed by a broader market recovery, fueling bullish momentum.

Technical indicators underscore the bullish outlook, with Shiba Inu standing above both the 50-day and 200-day Simple Moving Averages (SMAs), indicating sustained upward momentum.

The Relative Strength Index (RSI) reflects this optimism, showing a rebound from the 50-midline level at 56, aligning with SHIB’s breakout above the falling wedge pattern’s upper boundary.

The Moving Average Convergence Divergence (MACD) presents a bullish narrative as well, with a blue line crossover above the orange signal line, further affirmed by rising green bars on the histogram indicating positive momentum.

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These indicators suggest a strong bullish bias, with targets set beyond the immediate resistance towards $0.000040.

However, there remains a risk of bearish pressure that could see prices retract to support levels if current momentum wanes.

Amidst this climate, Dogecoin20 emerges as a noteworthy mention, with its launch scheduled for April 20, following a highly successful presale phase that quickly raised $10 million.

Dogecoin20, viewed as an evolution of the DOGE meme coin, is anticipated to outperform predecessors like Shiba Inu and Dogecoin itself.

The project aims for environmental friendliness and introduces on-chain staking with a compelling 98% annual percentage yield (APY), allocating 15% of its 140 billion total token supply for staking rewards over two years.

Marking April 20 as International Doge Day, the Dogecoin20 team aligns its launch with a day celebrated by enthusiasts, offering a strategic investment window for those eager to participate.

The presale’s extension provides a final opportunity to purchase DOGE20 tokens at $0.00022 each, with transactions facilitated through ETH, USDT, or bank cards, urging quick action from interested investors before the close.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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