Price analysis of crypto The Graph (GRT) and Shiba Inu (SHIB)

In this article we will see what’s new for the crypto projects The Graph (GRT) and Shiba Inu (SHIB). We then take a look at the charts and analyze the price situation of the respective cryptos GRT and SHIB: is there still room for a bullish movement of the altcoins?

All the details below.

Latest news for the crypto projects The Graph (GRT) and Shiba Inu (SHIB)

Starting from the most relevant news for the indexing project of on-chain data The Graph (GRT), we highlight the introduction of 3 new major web3 events, all hosted in the Asian continent.

These are social occasions where The Graph can try to grow its own ecosystem and strengthen the synergy among all participants of its community.

On the agenda there are hackathons, workshops, round tables, special summits, and many other special events, where blockchain clubs that leverage the cryptographic project’s subgraph services will also participate.

The stages of this Asian exploration tour are as follows:

• Seoul (March 25 – April 2): a major event that hosts conferences such as “BUIDL Asia, ETH Seoul and Shefi, ETH Summit, where all participants will be engaged in exclusive presentations, hackathons, and immersive experiences.
• Hong Kong (April 7): scheduled the “web3 festival” where several experts in the crypto sector will lead a round table on the topic AI and digital currencies.
• Tokyo (13-14 April): Web3/AI Summit conducted by TeamZ Inc, where the Asian community of The Graph will have a great networking opportunity with various industry experts. Also scheduled is a hackathon with Astar Network.

The effort of The Graph community in organizing events like these and participating in dialogue and social exchange with other industry players reflects the company’s commitment to expanding its services and increasing the visibility of the GRT crypto.

As for Shiba Inu and its memecoin SHIB, it is worth mentioning a recent mysterious tweet from the project’s marketing manager, “LucieShib”, where there is reference to some sort of integration between Shibarium, BONE, and the new cryptocurrency DAMN.

The details of this new feature for the Shiba community are not yet known, but we can imagine that it involves the inclusion of DAMN, a token taken from the Woofswap DEX of the layer-2, within Shabarium.

Lucie, suggesting that something important is brewing in polenta, makes one think about the addition of a new pool of liquidity with BONE and DAMN or hypothetical incentives for the project’s community, which will see growth opportunities for these cryptocurrencies.

We remind you that the Shiba team recently completed a massive burn of SHIB, BONE, and LEASH tokens, pushing the price action of these assets higher.

It is also worth mentioning the recent release of the 17th edition of Shib Magazine, which discusses cryptographic payments, in particular the integration with Binance Pay.

Price analysis for GRT and SHIB

The price analysis for the crypto GRT and SHIB, belonging to the respective projects The Graph and Shiba Inu, shows a very similar graphical situation.

Going into detail, we can see how for GRT, after an important bullish phase that started in mid-February, it is now time for a demand reflection pause.

Prices, after reaching the local high at 0.49 dollars, started to decrease forming lower highs and lower lows on a daily time frame, breaking below the level of 0.40 dollars.

Quotes are still slightly distant from the EMA 50, which if reached could give the necessary momentum for a rebound and a subsequent restart, and from here in the coming days we will likely face a situation tending towards lateralization/distribution.

Anyway, in the medium term the situation seems clearly bullish, with the bulls that could make themselves heard soon and push prices above the psychological threshold of $0.50.

To keep an eye on the trend of volumes: be careful about fake movements that have a marginal and insignificant trading value.

Also pay attention to the bearish divergence on the RSI which could prolong the decline in prices, if there is no positive reaction from demand around $0.35.

Daily chart of The Graph price (GRT/USDT)

Changing scenario and analyzing the situation of SHIB we see more or less the same graphic situation, where there is a price retracement following a strongly bullish movement.

After a 350% increase in just 10 days, the demand has returned to hibernation, giving space to the speculations of the short sellers who have brought the memecoin quotes back to around 0.000027 dollars, with a drawdown of -40% from the local peak.

Now there is the possibility of continuing the descent in the coming days, but as in the case of GRT, bulls could soon return to the forefront if conditions allow.

Near the 50 daily EMA at $0.000022 we have the first opportunity for a technical price rebound, where the first challenge will be to return above $0.000030.

On the other hand, with the bearish break of 0.000020 dollars, we can invalidate the previous upward movement and welcome a more extended phase of price decline.

Even here RSI and volumes are not encouraging but the macro trend remains bullish at the time of writing, at least until we have new updates.

Pay attention to the volatility because in the case of SHIB we see an extreme range of candle movements, potentially dangerous for market newcomers.

Daily chart of Shiba Inu price (SHIB/USDT)