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Shiba Inu Price Prediction as DEXTools Adds Supports for ShibaSwap – Adoption on the Rise?

Simon Chandler
Last updated: | 3 min read

The Shiba Inu price has barely moved today, holding to $0.0000221 as the cryptocurrency market also remains where it was yesterday.

SHIB has also dropped by 15% in a week and by 20% in a fortnight, with the meme token also falling by 6% in the last 30 days.

Yet today sees the news that DEXTools has added support for ShibaSwap, with the data platform providing listings and metrics for the Shiba Inu-based decentralized exchange.

This underlines SHIB’s credentials as a meme token with real fundamentals, and highlights how the coin is ready to rise again soon.

DEXTools Adds Supports for ShibaSwap – Adoption on the Rise?

DOGE may have struggled over the past week, but it has actually risen by nearly 1% in the past hour, raising hopes of an imminent comeback.

Its relative strength index (purple) had plunged to 20 late last night, yet it has since risen back above 50 and is on its way to 60, signalling new momentum.

Shiba Inu price chart.
Source: TradingView

At the same time, the 30-day moving average (orange) has begun rising again after falling to a bottom relative to the 200-day average (blue), a sign that it had reached the end of a down-cycle and is ready to rise again.

What’s also bullish is that the coin has been enjoying some big buys from whales in recent days.

What this all indicates is that, after a down period over the past one or two weeks, SHIB is about to climb again, with its discounted price making it appealing to buyers.

This is likely in line with the wider market, which has also struggled over the past fortnight but may pick up again soon.

For one, the eventual launch of the recently approved Ethereum ETFs will boost demand for ETH and, by extension, other major alts.

The Shiba Inu price is also likely to benefit from SHIB’s own fundamentals, with the coin’s native DEX, ShibaSwap, gaining support from DEXTools this week.

While this is a modest development, the addition of DEXTools support may help to boost SHIB adoption and usage over time, with the ShibaSwap trading data making it easier for traders to use the DEX.

Based on all of this, the Shiba Inu price has good short- and long-term prospects, potentially attaining $0.00003 by the end of the summer.

New High-Potential Meme Tokens

SHIB does look like it could recover and rally big again soon, but it isn’t the only promising meme coin in the market at the moment.

There are a wide variety of newer meme tokens, many of which are showing lots of potential as they hold their presales and move towards listing.

A great example of this is PlayDoge (PLAY), an Ethereum-based cryptocurrency that has raised $4 million in its token offering.

What’s interesting about PlayDoge is that it’s a play-to-earn game, with gamers able to earn rewards in PLAY for breeding, trading and completing missions with their own virtual Shiba Inu dogs.

It’s aiming to tap into nostalgia for the famed Tamagotchi handheld games from the late Nineties, with PlayDoge featuring 8-bit graphics that bring to mind old-school platforming games.

This design seems to be doing a good job of attracting investors, given that the sale has raised over $4 million in only a few weeks.

Also attracting investors are the coin’s tokenomics, with PLAY having a capped supply of 9.4 billion.

Holders will also be able to earn a passive income by staking the token, making it doubly profitable.

While the sale will end in the next few weeks, investors can join it by heading over to the PlayDoge official website.

They can buy PLAY at a cost of $0.00506 per token, with the price rising by $0.00001 every couple of days.

The token will list first on decentralized exchanges once the sale ends, while it will hold a community airdrop around the time it lists on CEXes.

Visit PlayDoge Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.