Shiba Inu surges 10% while new AI meme coin raises $3.5M – crypto.news

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Amid signs of renewed interest in meme cryptocurrencies, Shiba Inu (SHIB) has recorded a 10% gain today, showcasing a revival in market enthusiasm. Concurrently, the launch of a new meme coin, Scotty the AI, has captured attention, with its presale swiftly surpassing $3.5 million in funding.

Shiba Inu pump resumes as traders look past ATH

SHIB has enjoyed notable success this month, soaring 266% and adding a staggering $15 billion to its market cap.

The hype-fueled run reached a peak price of $0.000045, over halfway to its October 2021 ATH of $0.00008845.

But after such a triumph, Shiba Inu and the rest of the meme coin market cooled off, with SHIB consolidating between $0.00003 and $0.000038.

However, it appears that SHIB is gearing for its next leg up, bouncing off the $0.000031 mark and pumping 10% today.

Currently priced at $0.0000341, SHIB holds a $19.9 billion market cap and a $3.5 billion 24-hour trading volume.

Shiba Inu surges 10% while new AI meme coin raises $3.5M - 1

Considering what it might do next, traders are notably optimistic. 

Analyst Crypto Sheriff weighed in on X, noting that Shiba Inu was amid a symmetrical triangle and would likely break to the upside shortly.

The analyst did not offer a specific price target but urged market participants to “focus on higher goals because we are in the bull season now.”

Shiba Inu surges 10% while new AI meme coin raises $3.5M - 2

However, one analyst who provided distinct targets was PullbackSignal. Posting on TradingView, Pullbacksignal forecasted potential highs of $0.0000580.

Having made the prediction last week when SHIB was trading at $0.00002371, the trade idea is already coming to fruition. Still, the analyst’s target leaves room for a 70% increase from its current price.

Yet, taking a longer-term outlook, analyst Alan Santana forecasts significantly more upside.

“Looking at this type of action, the first time volume goes so high after so long indicates that a new market cycle is starting. A very strong RSI supports the super-high volume. The chart is easy,” he wrote.

The analyst provided two price targets on the weekly time frame: $0.000057 and $0.00014.

Shiba Inu surges 10% while new AI meme coin raises $3.5M - 3

Based on Santana’s prediction, $0.00014 may be SHIB’s bull market peak, surpassing last cycle’s high and providing room for a 311% increase from its current price.

However, other meme coins are also poised for significant gains. One of those is emerging presale Scotty the AI, backed to 10x by a leading analyst.

Trending presale Scotty the AI hits $3.5M

Parallel to SHIB’s performance, the Scotty the AI coin has quickly become a topic of interest among investors, distinguished by its unique blend of meme appeal and advanced technology.

Promising to leverage AI for enhanced blockchain security, Scotty represents a novel approach in the cryptocurrency sector, combining entertainment with practical utility.

This blend of AI and meme coin characteristics has led to significant investment interest, as evidenced by the $3.5 million already raised in its presale.

Analyst Jacob Bury, known for his accurate crypto forecasts, has highlighted Scotty the AI as having tenfold growth potential, further bolstering investor enthusiasm.

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