The post As Shiba Inu (SHIB) Slips, MoonTaurus (MNTR) Gains Momentum with 90% of Phase 1 Sold Out appeared on BitcoinEthereumNews.com.

Shiba Inu (SHIB) is struggling to maintain its position in the crypto market as selling pressure increases. The price movement for SHIB has been largely sideways, failing to breach a crucial resistance level. Investors are now turning their attention to MoonTaurus (MNTR), which is gaining significant momentum in its presale, with 90% of Phase 1 already sold out. Shiba Inu (SHIB) Faces Increased Selling Pressure Shiba Inu’s price remains unable to break through the local resistance at $0.00001561. Two weeks ago, SHIB attempted to surpass this level but failed, causing concern among investors. In addition, the Network Value to Transactions (NVT) ratio for Shiba Inu has reached its highest point in a year and a half, indicating that SHIB may be overvalued relative to its transaction volume. Furthermore, the Relative Strength Index (RSI) for SHIB also fails to maintain a bullish stance, signaling rising selling pressure. As a momentum indicator, RSI measures the speed and change of price movements. Shiba Inu’s inability to sustain its position in the bullish zone indicates weakening buying momentum, potentially leading to further price declines. If the selling pressure continues, SHIB’s price could experience a downturn, making it essential for investors to monitor these metrics closely. MoonTaurus (MNTR) Attracts Investor Attention In contrast, MoonTaurus (MNTR) is rapidly gaining traction among investors. The token, currently in its presale phase, has already raised over $270,000, with 52,078,280 tokens sold out of a total of 60,000,000 in Phase 1. Priced at just $0.005 during this initial stage, MoonTaurus offers an attractive opportunity for early investors. The presale’s success demonstrates strong investor confidence and highlights the growing interest in MNTR. MoonTaurus’ fixed supply of 3 billion tokens creates a sense of scarcity, further driving demand. As more investors recognize the token’s potential, its value is expected to skyrocket. With…

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Filed under: News - @ August 9, 2024 11:22 pm