As On-Chain trading continues to thrive, XSHIB token has emerged as the latest meme coin breakout in a classic play on the Shiba Inu predecessor.
Recent weeks have seen a huge trend in explosive DEX-launched tokens, with countless moon-shots garnering significant attention, including the ever-popular APX, RAIN, MEGA, REFUND, DRS and SNOR.
The sensational +50,000% skyrocket has seen XSHIB hammer-up to claim the biggest daily gainer across multiple platforms including Gate.io.
The XSHIB token is linked to the well-known ShibaX NFT collection, with the new stealth launched token expected to form the backbone of impressive ecosystem growth.
XSHIB Price Analysis: Just How High Can XSHIB Moon-Shot Fly?
As XSHIB price action continues upside momentum, XSHIB is currently trading at a market price of $0.02024 (representing a 24-hour change of +132%).
This comes after XSHIB launched at just 16:00 on October 19, with a sudden +5,100% in the opening hour of trading setting the stage for the increasingly dramatic upside move.
An 8-hour period of consolidation saw strong lower support established at $0.008375.
But price action became invigorated at 1AM on October 20 with another thunderous candle surging up an additional 90%.
Eagle-eyed traders, drawn in by the skyrocketing price action, flooded into XSHIB throughout the morning of October 20 – with $604k in trading volume launching price on a multi-hour rally.
Price action topped out at a localised all-time high of $0.0243 at 7am on October 20.
However, a minor -40% retracement move has been quickly eaten up as European markets awakened – with price now in an ongoing return to the all-time high.
Yet, with only 266 holders and a lowly micro market cap of just $848k – it sems unlikely the price action will stop here.
Similar meme coins such as Wall Street Memes have hammered up to $50m market caps -suggesting there is still the propensity for XSHIB to unlock insatiable 50x returns from here.
In other news, a flurry of interest is growing in Bitcoin cloud mining ahead of a rumoured Bitcoin Spot ETF greenlight.
Bitcoin Cloud Mining Interest Surges Ahead of Bitcoin Spot ETF: $BTCMTX Hits $1.8m Raised
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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