Shiba Inu average transaction size has fallen 50% over the past two weeks , indicating a possible change in investor sentiment towards SHIB. In addition to traders cautious stance, SHIB’s technical indicators such as the overbought RSI and bearish EMAs indicate an upcoming correction. All of this calls into question Memecoin’s ability to maintain the bullish momentum it has been showing lately. On the other hand, KangaMoon (KANG), the pioneering memecoin enters its presale phase 4 with community-driven incentives.
Average Shiba Inu (SHIB) transaction size continues to decline
According to data from the analytics platform IntoTheBlock, between February 21 and March 6, the average Shiba Inu transaction size increased by 319%, from $10,139 to $42,491. At the same time, the price of memecoin soared by 278%, from $0.000009 to $0.000034.
However, after this a sharp decline began. From March 11 to March 21, the average transaction size was halved – from $49,816 to $22,824, and the memecoin rate adjusted from $0.000033 to $0.000027. On the otherhand, since these two metrics are highly correlated, the gap between them could close in the next few days. This means that the price of SHIB will continue to decline.
Shiba Inu RSI hints at overbought conditions
The RSI metric serves as an essential technical analysis tool, acting as a momentum oscillator. It measures the speed and change in movement of an asset on a scale from 0 to 100, based on recent price increases and decreases. Despite the recent correction in Shiba Inu’s price, the relative strength index is still at 81, signaling that the asset is overvalued and a strong pullback is likely.
Technical analysis of the four-hour Shiba Inu time frame shows that the short-term EMA lines are approaching a crossover below the long-term EMA lines, hinting at the development of bearish momentum.
KangaMoon (KANG): the new memecoin presale hits stage 4
KangaMoon (KANG) is anything but your typical memecoin. With a play to earn (P2E) game on the horizon, KangaMoon appears to be introducing functionality to the memecoin space. KANG will serve as the primary in-game currency used for character upgrades and item purchases in this game.
🚀 Incredible news! 🎊
We have officially raised $2.5M! 🌟
Thank you to our amazing Mooner’s Tribe for believing in us and making this possible. đź’ŻGet ready to take your place among the stars.
Don’t miss out on the journey – join our presale now and let’s reach new heights… pic.twitter.com/VbIRkXL6T3— Kangamoon (@Kangamoon_P2E) March 23, 2024
Buyers are rushing to acquire this innovative memecoin, which recently entered Phase 4 of its presale. They have observed that early purchasers enjoy a 180% surge and wish to participate in this trend. Given that market analysts anticipate a 50x increase once KANG hits exchanges in Q2 of 2024, acquiring it now may yield tremendous returns.
KangaMoon KANG Rewards the community
Another thrilling aspect of KangaMoon’s presale is its emphasis on its community. In other words, KangaMoon will reward active community members (sharing, commenting, and liking social media posts) with complimentary KANG tokens. This transforms KANG into a community-driven memecoin that could establish the largest meme community in the market.
The P2E games market will attain a value of $885M by 2028, according to Yahoo Finance report, so KangaMoon’s growth potential is outstanding. If everything aligns for the KangaMoon team, experts predict this project will penetrate the market and it will generate millions.
