With the broader memecoin market facing a meltdown in recent developments, the Shiba Inu price has faced a pushback after a whale drove a high-volume transaction through Ethena (ENA) and made millions. However, whales are now moving towards Unilabs as this next-gen investment platform is going viral for its fast-selling presale, with over $600,000 raised already.
Shiba Inu (SHIB) has recently completed a five-wave bullish impulse on the lower time frame and is undergoing a corrective pullback, aligning with a broader reversal pattern observed on the daily chart. The macro structure for the Shiba Inu price suggests the end of a W-X-Y-X-Z corrective phase, transitioning into a potential new impulsive wave.
The higher time frame (1D) chart shows SHIB breaking out from a prolonged descending wedge, which finalized a complex W-X-Y-X-Z correction on April 7. This bullish breakout saw the Shiba Inu price reclaim the green support zone between $0.000011 and $0.000014, indicating strong demand for SHIB among memecoin enthusiasts.
On May 12, the Shiba Inu price completed a five-wave impulsive structure to the upside to $0.000017. Since then, SHIB has pulled back by nearly 20% and is consolidating within the prior demand zone. The Relative Strength Index (RSI) on the daily chart remains neutral around 50, showing room for further upside for the Shiba Inu price without overbought pressure.
While the broader memecoin sector is facing overall turmoil in the crypto market, Unilabs (UNIL) is shifting focus from these volatile projects to its data-backed DeFi asset management system. This modern-gen investment protocol is gradually becoming a game-changer for investors willing to switch from manual trading norms to automated trading environments.
Unilabs delivers advanced AI integration within the platform to find and offer lucrative blockchain projects that deliver high-growth opportunities before they hit the market. Also, the platform’s presale is landing massive gains after a SHIB whale poured over $100,000 into Unilabs’ ongoing presale frenzy, with speculations of more investment avenues to follow.
Ethena (ENA) is currently trading at $0.34 after experiencing a 7.47% drop in the past 24 hours, pushing its market cap down to $2.03 billion. Despite the price dip, the trading volume for Ethena (ENA) has surged by over 85%, reaching $347.57 million. This strongly indicates a strong investor interest and potential accumulation at lower levels.
Its RSI is currently hovering around 49.27, suggesting that Ethena (ENA) is in a neutral zone, neither overbought nor oversold. Meanwhile, its 0.0147 MACD level indicates a weak but possibly emerging bullish momentum. These mixed technical signals reflect a period of consolidation for Ethena (ENA), with traders possibly waiting for a breakout element.
Based on the technical indicators, if Ethena (ENA) can hold the $0.32–$0.33 support zone and regain bullish sentiment, it may target short-term resistance at $0.39, with a medium-term projection towards $0.45 if market conditions improve. On the downside, failure to hold current levels could lead Ethena (ENA) to a pullback toward $0.30.
With the Shiba Inu price taking a hit in recent performance analysis, Unilabs (UNIL) is redirecting SHIB holders to its modern-gen investment protocol. Most memecoin holders have faced pushback from memecoins as the broader memecoin sector failed to keep up with the shifting market conditions, especially with the global tax conflict between the U.S. and China.
Nonetheless, most memecoin and AI crypto enthusiasts are flocking from volatile crypto blockchains to data-backed platforms that offer strong fundamentals as well as sizeable growth opportunities in the market. Analysts predict that Unilabs (UNIL) could skyrocket to 10x in the upcoming sessions after raising over $600,000 in less than a week of going live.
As Shiba Inu (SHIB), Ethena (ENA), and Unilabs (UNIL) engage in a close rivalry, most investors are betting big on the emerging DeFi asset manager for its strong performance metrics and presale performance. Make sure to check out Unilabs’ presale as it nears completion.
Presale: https://www.unilabs.finance/
Buy Presale: https://buy.unilabs.finance/
Telegram: https://t.me/s/unilabsofficial
Twitter: https://twitter.com/unilabsofficial
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