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The recently launched Shiba Saga token’s price has declined after a dramatic surge to an all-time high of $0.785 on August 26. Following the fall, SHIA has oscillated between $0.3 and $0.2 before falling to $0.1.
SHIA’s weekly chart demonstrates steep volatility, with several ups and downs. CoinMarketCap’s data shows the meme toke has recorded a 66% 30-day price drop and over 20% in the past seven days.
While these movements cast doubt about the project’s potential, the token’s price action in the early hours of today, September 14, reignited hope for a rebound. As of 8:00 AM EST on September 14, SHIA traded at $0.13, up 1.5% in the last 24 hours.
Why SHIA’s Price Rose – Asian Market Expansion
The major contributing factor to SHIA’s price increase today is its recent listing on Coinstore.
According to a tweet by the SHIA team, the coin has been trending on the Dextools platform for the past three weeks. On September 12, the team announced that the token is now tradable on the Coinstore cryptocurrency exchange.
.@Shibasagaio Continues to trend on Dextools 3rd week in a row.
Strong consolidation at $6.54m MC and over 7000 holders.
The team are pushing forward with expansion to the Asian market with their listing on @CoinstoreExc$SHIA $ETH #DextoolsTrending #CryptoNews #memecoin pic.twitter.com/6HpPLAZDVn
— The Trending Service (@DexTrending) September 13, 2023
Following this news, the SHIA price jumped by over 200% to $0.27 in a few minutes but later dropped back to $0.1, probably due to the actions of profit-taking investors.
The recent listing and expansion to the Asian market contributed to the slight growth and could go further if the buyers can sustain it.
SHIA Price Analysis – Will Buyers Sustain Rally?
Despite the SHIA token growth today, there’s still a chance of it dropping, as the coin is only a few cents higher than its support level of $0.1. However, technical analysis suggests the token can sustain this rally.
SHIA is approaching the 20-moving average line, suggesting a potential shift in its short-term price trend. Also, the coin’s current position above the lower Bollinger Band indicates that SHIA’s buying demand is growing.
However, the Moving Average Convergence Divergence (MACD) below its signal line shows that sellers are still in the market. However, the fading red histogram bars suggest their bearish momentum is dropping.
The Relative Strength Index moving toward the overbought level confirms that more buyers are entering the market. Their actions could force the bears to surrender, allowing SHIA to sustain the uptrend.
Buyers may remain in the SHIA market as more people adopt SHIA through Coinstore and other ecosystem developments, causing a more prolonged rally.
SHIA Targets $1 Mark – Is It Possible?
After taking support at the $0.1 price zone, SHIA is moving gradually toward its primary resistance level at $0.29. If SHIA maintains the ongoing momentum, it could reach the resistance level in the coming weeks.
Furthermore, a breakout above the $0.29 price zone will propel SHIA toward hitting resistance at the $1 price mark. This will represent a price increase of almost 1000% from its current mark of $0.20.
However, if the seller’s pressure outweighs the buyer’s, SHIA may need help to reach the primary resistance of $0.29, and the price may fall below the $0.1 support.
Shia Best Alternative – Bitcoin BSC (BTCBSC)
The Shia market reflects some uncertainty that could impact investors’ interest. However, Bitcoin BSC (BTCBSC) presents a good alternative for investors looking to diversify portfolios against the high price volatility.
The crypto project is developed on BNB Smart Chain, which boosts its scalability, supporting faster and cheaper transactions. It uses a Proof-of-Stake consensus model.
Bitcoin BSC offers users a taste of real-world utility through its staking program. By staking their BTCBSC tokens, investors could contribute to the security and stability of the network and earn passive income via staking rewards.
Similar to Bitcoin’s production of new blocks, Bitcoin BSC’s staking smart contract is scheduled to pay BTCBSC coins as staking rewards every 10 minutes.
With an allocation of 14,455,000 BTCBSC for the staking program, users could earn up to 310% APY. The staking rewards are distributed to users according to their share in the project’s staking pool and the prevailing APY.
Following the popularity and adoption of the project, Bitcoin BSC already has over 850,600 BTCBSC staked tokens in its pool.
Bitcoin BSC Explosive Presale
BTCBSC is currently running its presale at $0.99. From the Bitcoin BSC’s tokenomics, the presale received an allocation of about 6,125,000 tokens.
The presale offers crypto enthusiasts the opportunity to purchase BTCBSC at the lowest price before its price surges in the coming months.
Given the massive investor interest in BTCBSC, the presale has already generated over $1.77 million of its $6.06 million soft cap within a few days. Visit the project’s official website for more information on how to acquire the tokens.
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