Shiba Inu (SHIB) has been coiling up within a downward triangle, implying that the decline has not ended. However, because the technical pattern had not yet been proven, there was still hope of a rebound for the notorious meme coin.
Shiba Inu At a Tipping Point
SHIB rebounded rapidly to levels over $0.000014 on May 13 after losing more than half of its value to establish a swing low of $0.00000873 on May 12.
Since then, the meme currency has recorded a sequence of lower highs and roughly equal lows in the vicinity of $0.00001035. As a result, a descending triangle appears to become consistent.
If Shiba Inu’s price falls below the horizontal trendline at $0.00001035, it will plummet to $0.00000719.
A climb above the falling trendline around $0.000011, where the 50 and 100 four-hour Simple Moving Averages (SMAs) looked to converge, would signal a bullish breakout.
A move like this would result in a rise to $0.00001466.
As a result, any efforts to get SHIB out of consolidation must resist selling pressure from its investors, who may attempt to break even or reduce their losses.
On the other hand, failure to create a four-hour candlestick close above $0.000011 may cause the token to retreat to the triangle’s baseline at $0.00001035.
A breach below this level would falsify the bullish argument and signal the beginning of a new decline.
In such a circumstance, market players may anticipate Shiba Inu’s price crashing to $0.00000719, with a possible pause around $0.00000873.
All this worries the investors, making them bearish on Shiba Inu and opt for more promising alternatives like Tamadoge.
Tamadoge – The Newest Doge on The Block
Here are the five reasons why you should join the bandwagon and go bearish over Shiba Inu and bullish on Tamadoge.
Tamadoge Tokens
Tamadoge’s maximum supply will be 2 billion units (2,000,000,000). At the token creation event, there will be 1 billion tokens in circulation, with 400 million unminted and earmarked for exchange listings.
Furthermore, there will be 600 million units available to be coined over ten years to power the Tamadoge project.
Tamaverse
Each Tamadoge NFT will accompany a fully rigged, animated 3D pet model. This will allow Tamadoge NFTs to be incorporated into current metaverse environments.
Tamadoge is committed to investigating collaboration options to allow you to walk your Tamadoge pets in the metaverse as soon as the token is released. Besides, an augmented reality Tamadoge app will also enable you to walk your Tamadoge in real life.
Tamadoge Pets
Tamadoge has already planned a slew of fun events for the Tamadoge pets. They intend to develop an augmented reality software that will allow you to interact with your Tamadoge pet as if it were in the same room as you.
The Play to Earn principles from the web-based game will be carried over to the app. Users will still be able to combat their pets to top the leaderboard, but it will also significantly expand on this with other P2E aspects.
Tamadoge Games
Tokens will be awarded to users for the duration they spend engaging with their Tamadoge pet. The more you interact with your Tamadoge pet, the closer you will get and the more money you will earn.
You will be able to play with and walk many Tamadoge dogs simultaneously, and you will even be able to train your Tamadoge pet skills to obtain the best photographs to share on social media.
Tamadoge Leaderboards
Each detail will be tracked on the Tamadoge leaderboard, presenting the investors with the highest points to the community each month.
If that wasn’t enough, Tamadoge has announced much more.
Tamadoge: The Play-To-Earn Dogecoin
Tamadoge (TAMA) is the new cryptocurrency project that offers consumers and investors play-to-earn (P2E) alternatives and in-reward benefits. Tamadoge is the native cryptocurrency of the Tamaverse, a P2E game centered on the doge.
Unlike Dogecoin, which has gained popularity because of its strong social media support, Tamadoge is a multi-utility token that provides traders with various use cases.
A 20% reserve has been set up for future listings on both decentralized and controlled exchanges.
Furthermore, Tamadoge is a deflationary asset since 5% of all tokens spent are burned. This assures that supply never exceeds demand, making the coin more valuable in the long run.
Another noteworthy feature of Tamadoge is that there is no tax while purchasing or advertising this coin. Tamadoge will only make money if the tokens you earn during the game are used to buy pet NFTs from the Tamadoge store.
CoinSniper – the crypto analytics platform – has confirmed this upcoming Metaverse game, and Solid Proof has completed an audit. Users may now purchase Tamadoge during the presale period.
Tamadoge Contract
Use the contract information below to add the Tamadoge token to your wallet.
Address: 0x12b6893cE26Ea6341919FE289212ef77e51688c8
Decimals: 18
Token symbol: TAMA
Website link: https://buy.tamadoge.io
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Source: https://insidebitcoins.com/news/5-reasons-to-be-bearish-on-shiba-inu-price-and-bullish-on-tamadoge