Shiba Inu Price Expectations To Fall 30% In Feb While DOGE Rise and 1Fuel Launch
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/1Fuel/ – The market is already buzzing with concerns over a possible dip in Shiba Inu’s price, with some analysts predicting as high as a 30% decline. The case might, however, be different for Dogecoin, as analysts predict continued momentum into the new month. 1Fuel (OFT) has also joined the buzz with its successful ongoing presale, highlighting new milestones. As its launch date draws near, investors are stacking up on OFT tokens at its current low entry price.
Shiba Inu Could Drop by 30% in February
The optics have been looking discouraging for Shiba Inu in the last couple of days. Its 3% drop in the last 24 hours is a continuation of its 9% decline over the last 7 days. This reflects its overall 13% decline in the last month.
SHIB has also lost 33% of its daily trading volume, dropping to $284 million. While it remains the second largest meme coin after Dogecoin, its market cap has taken a 3% hit, dropping to $10.9 billion.
Reacting to the signs of possible decline, the Shiba Inu team increased its burn rate by 1000% last week. So far, 6 million SHIB tokens have been burnt in a bid to reduce SHIB’s supply. While this is a very fundamental aspect of the token, it’s yet to be reflected in the overall price shift.
If nothing tangible happens in the market or from Shiba Inu’s large community, analysts fear a continued decline peaking at 30% by the end of February.
Dogecoin Could Be Gearing Up for Another Rally
Dogecoin has been down 7% over the past week, but that doesn’t reflect its whale’s accumulation over the past week.
Data from IntoTheBlock discloses a 5% increase in whale DOGE accumulation in the last 7 days. While this is significant, it becomes small in light of the accumulation in the past 30 days, which has risen by $323%.
This bullish accumulation suggests a growing conviction between institutional and big-capital investors in DOGE’s prospect heading into 2025.
According to DOGE’s historical price movement, once it crosses the 0.618 Fibonacci, it never dips past that level. The 20-week exponential moving average (EMA) has been a strong support for DOGE’s bull runs.
DOGE is currently at the 0.618 Fibonacci Level and the 20-week EMA, suggesting strong support and an upcoming rally.
1Fuel’s Upcoming Launch Could Yield a 10x Gain
1Fuel (OFT) is an emerging project that could make an impact in the cryptocurrency market. Designed as an all-in-one crypto exchange and wallet, 1Fuel’s comprehensive solution could redefine digital asset management.
According to its roadmap, 1Fuel’s presale phase is supposed to last through Q1 2025, after which it goes live on centralized and decentralized exchanges. It’s not certain how many presale rounds 1Fuel will go through, but investors who are in early would have secured profitable entries.
1Fuel (OFT) tokens started at $0.01 in stage 1 and moved to $0.012 in stage 2. They are currently selling at $0.017 in their ongoing stage 3 presale and have sold 55% of their allocation for this stage.
Over $1.6 million has been raised in its presale so far. The growing involvement of more investors will definitely spark FOMO among other investors, which could drive OFT’S price up through its launch. Don’t miss out on the only opportunity to get 1Fuel (OFT) at $0.017.
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