Shiba Inu Price Prediction: SHIB Plunges 9% As This New AI Meme Coin Rockets Past $700K

On May 1, 2024

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The Shiba Inu price has plunged 9% in the past 24 hours to trade at $0.0000228 as of 7:25 a.m. EST on a 5% surge in trading volume to $685 million.

Shiba Inu Price Faces A Downturn

The Shiba Inu price trades within a bullish pennant pattern after a significant surge above a long consolidation phase. This pattern hints at a bullish trend continuation for Shiba Inu’s price.

The bears have taken control of the price at the upper trendline of the pennant, applying downward pressure toward the lower trendline.

SHIBUSDT Analysis. Source: Tradingview.com

The price trades below the 50 simple moving average (SMA) as the bulls attempt to stay afloat above the 200 SMA to maintain the general momentum.

At the same time, the relative strength index (RSI) indicates a reversal from the midline level 50 trending downwards to the 30 oversold level. However, if the price rebounds, the RSI may reverse to the upside to reach the overbought territory, signalling intense buying pressure.

Shiba Inu Price Bears Target Support Level on Lower Pennant Trendline

The bears continue to push the price downwards to recover their losses. However, this downtrend may be shortlived, as the presence of the bullish pennant may empower the bulls to form a strong resilience at the lower trendline, bouncing back to reach the upper trendline as bulls aim for a new record high at $0.00004825.

If the downward pressure remains strong, the price could dip below the lower boundary of the pennant at $0.00001409.

WienerAI Surges Past $700K

Meanwhile, as SHIB traders work out their next moves, they might also consider the WienerAI (WAI) token, which has raised over $714k in its presale.

This unique project combines a meme coin with artificial intelligence (AI), two of the hottest niches in crypto.

Tail-Wagging Success
Wiener AI Raises Over $500,000 in Funding! 🌭🚀 pic.twitter.com/7aB1wXg5PZ
— WienerAI (@WienerDogAI) April 29, 2024

In its AI department, WienerAI offers what it says is the most advanced and beginner-friendly crypto trading bot ever. The bot has predictive technology, a simple and comprehensive interface, and substantial functionality.

The goal is to help put crypto traders ahead of the game by giving them a competitive advantages over other traders.

“Ask the bot a question related to your crypto investment needs, and WienerAI will use its predictive technology to scour the markets in search of a winner,” says its website. “Once a winner is found matching your queries, WienerAI delivers unbiased analysis and reasoning.”

Stake $WAI For 1,252% Annual Returns

WAI token holders can also stake their holdings for lucrative rewards, with an annual return of 1,252% right now. More than 826 million WAI tokens are already staked.