This month, the price of Shiba Inu (SHIB) has increased by 231%, very close to the critical threshold. This comes as a result of whales accumulation of the coin. Meanwhile KangaMoon (KANG) presale emerges as a superior investment and many analysts compare it to memecoin Dogecoin.
Whales are accumulating Shiba Inu again
According to key on-chain metrics, whales are again actively accumulating memecoin . We are looking into whether their actions can bring the start of a new rally closer.
From February 25 to March 4, the number of addresses holding between 1,000,000 and 10,000,000 SHIB decreased from 548 thousand to 539 thousand, which coincided with a 330% increase in the price of memecoin. This means that the whales took profits and exited their positions.
However, from March 4 to March 12, the number of wallets of large Shiba Inu holders increased from 539 thousand to 543 thousand, indicating a resumption of accumulation. If retail investors follow the whales’ lead, their efforts could be enough to spark a new rally.
MVRV indicator hints at Shiba Inu growth
During the latest surge in SHIB’s price, the MVRV ratio increased from -1.51% to 71% in just four days, signaling that the asset is overvalued.
After the start of consolidation, the indicator values dropped to -4.2%. This indicates that investors continue to hold Shiba Inu, expecting the upward movement to continue.
Technical analysis of the 4-hour chart of SHIB gives a neutral forecast. In particular, the 20-EMA is in close proximity to both price and the 50-EMA, reflecting a period of indecision in the market.
KangaMoon: Why the Memecoin is a Superior Investment?
Despite Dogecoin’s historical gains for early investors, KangaMoon could emerge as a more promising investment opportunity for several reasons.
Primarily, KangaMoon aims to foster a robust community of like-minded investors. This will afford participants the chance to expand their networks, exchange insights, and integrate into a flourishing ecosystem.
Furthermore, KangaMoon will incentivize users with social-fi attributes. Participants will engage in weekly, monthly, and quarterly challenges to earn $KANG tokens, providing an avenue for investors to generate income and enhance their portfolios.
KangaMoon Presale Activity
During the KangaMoon presale, contributors can acquire bonus $KANG tokens by assisting in promoting the project. Through bolstering the project’s momentum, participants can commence earning income even prior to KangaMoon’s launch.
Lastly, alongside these profitable social-fi attributes, investors can partake in KangaMoon’s Play-to-Earn (P2E) game. This game will enable players to engage in battles with characters for rewards and trade these rewards via the KangaMoon marketplace for additional profits.
KangaMoon has witnessed a surge in price subsequent to surpassing $1,000,000 in weeks, poised to reach $1.5 million in days. To participate in this swiftly growing venture, investors can acquire $KANG tokens through the KangaMoon website. Currently trading at $0.01125, these tokens are anticipated to yield returns of 320% during the KangaMoon presale.
KangaMoon against Dogecoin
Given its substantial growth already, analysts speculate that Dogecoin might have reached its pinnacle. Consequently, projects such as KangaMoon could soon garner greater attention. With its minimal entry barriers and substantial potential, investors are gravitating towards KangaMoon to capitalize on price surges and become part of one of the most rapidly expanding communities in the DeFi realm.
