Baby Shiba Inu (BABYSHIB), a popular dog-inspired meme coin, saw a significant price increase in the last seven days.
About a week ago, the token’s price was at $0.0040, one of the lowest points it reached in its short history. It was still lower than that at launch when its price was $0.0036.
Fortunately, the token did not stick around this price for long, as its price soon grew. Between September 11, last Monday, and September 15, last Friday, the token surged and broke multiple significant resistances.
BABYSHIB Hits ATH Days After Launch
It first exceeded the price of $0.0060, turning this level into solid support. It then breached the resistance at $0.0080, which also became a support that held BABYSHIB from sinking lower over the past week.
However, the resistance at $0.010 was more challenging to rise against, and Baby Shiba Inu took several days, from September 12 to September 15, to do it. Finally, this level also broke, allowing the token to surge forward.
On September 15, BABYSHIB reached two new milestones — first, it climbed above $0.012, and then it saw a sharp surge up to $0.015. It arrived at this level only briefly but then lost momentum.
As always, a rapid correction followed a quick surge, and the token dropped back to a support at $0.0090. Over the weekend, however, BABYSHIB saw a period of stability.
Its price was moving around $0.010, trying to breach this support-turned-resistance, while support at $0.0090 prevented it from going lower. Come Monday, however, the market started the week with a bearish wave.
As a result, BABYSHIB’s price saw another drop — one that took it to $0.00869. This is where the price sits at the time of writing.
Is the BABYSHIB Price About to Rise?
Interestingly, despite the price drop, BABYSHIB’s current value still represents a 111% weekly price increase, even though the token lost slightly over 10% of its value on the daily chart. Furthermore, its 24-hour volume is 46% down compared to yesterday.
BABYSHIB’s recent launch, followed by solid price performance, made the token quite famous, making it one of the trending cryptos on DEXTools.
As for where the token might go from here, it is hard to say, as there is no historical data for this new cryptocurrency that would assist in making predictions and spotting patterns.
With that said, the price drop seen on early Monday is already turning around, and the market is trading in the green at the time of writing. This might mean that BABYSHIB will follow the majority of tokens and see a recovery.
Those invested in the token hope to see a 70% surge, but ultimately, everyone will have to wait and see what happens.
Bitcoin BSC is Over Two-Thirds of the Way to Soft Cap
If you are hesitant to go for BABYSHIB, you can always go for a different crypto — one unbothered by volatility. One of the best options is to join the Bitcoin BSC (BTCBSC) presale.
BTCBSC is a BEP-20 token running on the Binance Smart Chain. It was created to offer crypto users the ability to buy Bitcoin, but not the BTC everyone knows today, but rather the one from 2011.
At the time, BTC had a price of only $1, so BTCBSC is selling for $0.99. The token has been a huge hit, and in only around ten days, it raised $2.77 million.
The presale will continue until a soft cap of $3.96 million is reached, so the window of opportunity for buying it early is closing rapidly. Once it goes live, the token will offer staking, releasing rewards every 10 minutes, just like Bitcoin’s blockchain removes mining rewards.
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