After breaking out of a descending pattern, Shiba Inu’s price is struggling to close above its 21-day EMA. With SHIB changing hands at $0.000015, Shiba Inu price predictions that anticipated a bull run in the short term might have to make adjustments.
Shiba Inu is approaching its early February highs, but the dog-themed meme coin refuses to break through the $0.000018 resistance, leaving most onlookers with bearish Shiba Inu price predictions.
Meanwhile, Remittix’s RTX has seen its presale raise over $15.2 million. RTX is an emerging PayFi token whose rally will mimic SHIB’s early bull run.
Shiba Inu price predictions turn bearish after SHIB’s breakdown
SHIB’s breakout momentum from a four-month-long downtrend saw it reach a price of $0.000017. However, this zone has also seen SHIB’s price encounter heavy selling pressure, with SHIB breaking down occasionally below the $0.000015 mark.
Image Source: Trading View
Before registering a breakout, Shiba Inu’s price movements had formed a head-and-shoulder structure that saw traders anticipate a breakout as SHIB’s bid interest overshadowed supply, leading to an uptick.
Other contributing fundamental factors include Shiba Inu’s surging burn rate– a move that has seen most analysts set bullish Shiba Inu price predictions in the long term. Shiba Inu’s exchange outflow has also increased over the recent past, and with a burn rate at 84% in 24 hours, it’s easy to see why the Shiba Inu price predictions would turn bullish.
While there is hope for a bull run for SHIB, Shiba Inu’s failure to defend the neckline of its forming structure near the $0.000014 mark could invalidate its bullish outlook, leaving room for the bears to control the market. This could see SHIB dip towards lower support zones.
Image source: Coingecko
Remittix’s RTX presale gains traction, selling over 97% of RTX tokens
Shiba Inu price predictions might be struggling to maintain their once bullish outlook, but this emerging PayFi protocol is predicted to surge 3,000% upon launch. Introducing Remittix, a disruptive player in cross-border payments with a mission to reinvent PayFi.
Remittix is a revolutionary PayFi with a simple and intuitive platform designed to facilitate seamless crypto-to-fiat payments. Remittix enables crypto holders to send funds to a recipient’s bank account instantly. Every transaction comes at a flat fee, and there are no extra charges or hidden costs.
Compared to competitors, Remittix obscures the complexities of dealing with crypto wallets such that the recipients remain unaware that the transaction started out from a crypto wallet. Remittix is able to bridge the gap between cryptocurrencies and traditional banking networks through an intuitive and affordable platform that supports over 30 fiat currencies.
Businesses are also supported through Remittix’s Pay API, which features support for 40+ cryptocurrencies, including stablecoins. This offers businesses and their crypto customers a level of flexibility that is hard to come by on conventional platforms.
RTX’s ongoing presale has raised over $15.2 million, and with RTX now priced at $0.0781, investors have a chance to get in at discounted rates.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
