- Shibarium-affiliated coins SHIB & Bone ShibaSwap bump into monthly lows.
- Shiba Eternity Play-2-Earn game to employ BONE for in-game purchases.
- Pro trader Ali Martinez explains TD Sequential’s ‘buy signal’ on SHIB.
Two Shibarium Layer-2 coins, Shiba Inu (SHIB) and Bone ShibaSwap (BONE), have been trading in a downward parallel channel in the weekly timeframe. SHIB slipped by 14.4% over the past 7 days to drop below the $0.00002 support for the first time since March 3, 2024.
Shiba Eternity Play-2-Earn Launch Looms
BONE faced the bears with a 10% weekly deficit, plunging below $0.60 key support after holding above the trendline for the better part of the last three months. However, things are potentially about to change for Bone ShibaSwap, as the gas fee token is slated for adoption in Shiba Eternity P2E.
Shiba Inu’s official Play-2-Earn (P2E) blockchain game is getting closer to release, according to SHIB Token’s marketing team lead Lucie. The collectible card game has been in the making for over three years. SHIB custodians can already enjoy the mobile version of Shiba Eternity on Android and iOS.
TD Sequential to Offer SHIB Price Relief?
As the general crypto markets struggled to lose the bearish constraints coming into a new week, SHIB flashed a ‘buy signal’ on the Tom Demark Sequential (TD), a trading instrument used to spot a price trend reversal. In SHIB’s case, the TD Sequential hinted at a short-term price relief on Saturday, July 15, 2024.
Ali Martinez, a prominent crypto analyst, explained this by sharing a graphic based on the 9-candle TD Sequential pattern. By this logic, nine consecutive candles closing above the previous four candles indicate a high probability of a price trend reversal.
Despite the favorable technical setup, Shiba Inu’s price dwelled below the $0.00002 support level on Monday, July 17. The range between $0.00002 to $0.000022 holds 31.73T SHIB between 27.12K addresses, which could apply further sell pressure if SHIB closes the day below this checkpoint.
As of press time, SHIB is changing hands at $0.00001987 with a 4% drop over the past 24 hours, according to price aggregator CoinGecko. Meanwhile, Shiba Inu’s BONE is priced at $0.5288, falling to 3-month lows despite swirling rumors about a new BONE listing on SHIB Army’s social media channels.
On the Flipside
- Shiba Inu’s executive team didn’t provide an official launch date for Shiba Eternity P2E on Shibarium L2.
- SHIB’s executed Spot orders in the 24-hour timeframe displayed a $1.33M gap between SHIB sales and bids.
Why This Matters
Blockchain gaming adds another utility case for meme coins, providing the SHIB community with a fun way to earn additional income.
Sponsored
Discover DailyCoin’s top crypto news:
Ether ETFs Set for Early July Launch as SEC Reviews Nearly Done
Tigran Gambaryan Is Still Detained After 100+ Days: What’s Going On?
