The post This Lesser Known Meme Coin Initiate A Bullish Rally! Will It Outperform SHIB and DOGE? appeared first on Coinpedia Fintech News
Memecoins have gained so much popularity in the crypto industry due to attracting names, social hype and celebrity influence. Shiba Predator (QOM), which is built on the Ethereum mainnet, has become one of the favourite memecoins of crypto enthusiasts. It seems this new memecoin has the potential to surpass the market leaders, including Shiba Inu and Dogecoin, as it has recently broken out its crucial resistance level at $0.00000004.
Shiba Predator Gains The Crypto Market’s Attention!
Shiba Predator has gained the trust and attention by bringing a ray of hope to investors during the crypto winter. QOM recently surpassed its resistance level at $0.00000004 and tried to break the next resistance level at $0.0000000445; however, it faced rejection at $0.0000000434 and significantly dropped, making an immediate support level at $0.00000004 in the price chart.
QOM secured a weekly support at $0.0000000408 after its price fell over 50% in September. Despite the current market sentiments, QOM looks promising as it aims to cross the $0.00000007 price in the upcoming weeks. QOM’s potential to break its resistance level and start a bull run with an uptrend of 17% looks overwhelming compared to its small market cap of $24 million.
Shiba Predator To Bring A Wave Soon
QOM attempted to break its potential resistance level at $0.0000000750 on 18 July but failed to make a breakout, pushing its price down to $0.0000000440. Since 21 September, QOM has been exponentially moving upwards and currently trading at $0.0000000411.
Looking at the daily (1 day) QOM price chart, QOM is trading above the EMA-20 and EMA-50, indicating a bullish momentum soon. The RSI is also showing a positive momentum for Shiba Predator as it has retested the 50 level and is currently trading at 53. To start a bull run, QOM needs to hold its price above $0.0000000532 with a significant market cap which will facilitate the memecoin to move towards $0.0000000780. Conversely, its price can fall if it breaks the support level at $0.000000032.
Shiba Predator is following the trails of the kings of memecoins, and it has an incredible potential to hit new highs in the future. However, QOM’s future prices entirely depend on its social hype and the crypto market’s sentiments. It is advised to do research and conduct experts’ opinions before investing in such memecoins as they are not considered a stable crypto investment option as the bubble can burst anytime.