Shiba Inu and EverGrow Coin could be nearing a significant ‘break out’ according to crypto analysts
Shiba Inu was one of the best cryptocurrencies to invest in last year as it rocketed 46,000,000% in price. EverGrow Coin is tipped to be a top crypto asset this 2022 as its development team gets ready to add a number of new applications to an impressive ecosystem.
EverGrow Coin teases two major drops that will boost token price
EverGrow Coin has been one of the fastest-growing crypto tokens this month after it was listed on the DigiFinex crypto exchange. The EverGrow Coin price rocketed up 20% within hours, equaling the rise in the price of Shiba Inu after it was listed on the Robinhood crypto brokerage platform earlier in April.
The DigiFinex listing increased the daily trading volume of EverGrow Coin sevenfold, consistently hitting over $3 million in the last few days. This is an impressive volume for a crypto token with a modest market cap of $200 million – the 24-hour trading volume is also higher than many top 100 crypto tokens on CoinMarketCap.
The EverGrow Coin official Twitter has teased two more drops to be revealed in the next few days. These could include a hotly-anticipated NFT marketplace housed on the Binance Smart Chain. Analysts have tipped the marketplace to become in demand as it’s the first known NFT marketplace to allow crypto lending using NFT assets as collateral.
EverGrow Coin’s appeal is thanks to tokenomics that incentivise long-term holding with a 14% transaction tax. A total of 8% is instantly redistributed as BUSD rewards, with 2% set aside for buying up $EGC tokens and burning them to remove them from the supply.
Fall in Shiba Inu price could create opportunities for crypto investors
Shiba Inu has dropped 4% in price over the last week, however top analysts from FXStreet suggest a further drop will open up a unique opportunity to buy the dip. The price of Shiba Inu is currently at $0.00002555 according to CoinMarketCap.
Shiba Inu’s relative strength index (RSI) has fallen below 50, indicating that investors are pulling out momentarily. Analysts have suggested this is because the new earnings quarter has kicked in in the United States.
A fall in Shiba Inu could likely see $SHIB prices fall towards $0.000022 – a 12% loss. This however would create an opportunity for investors to buy the dip before prices rebound once more.
Shiba Inu enjoyed incredible breakouts last year, and a new listing on Robinhood will open the door for millions of dollars to pour into Shiba Inu once it can make back recent losses.
Disclaimer: The information posted in the article is for educational purpose only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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