News Crypto and cryptocurrencies

Shiba Inu makes up 30% in the last week

Over the past week Shiba Inu has seen a significant surge in prices, climbing nearly 20%, pushing its trading price to $ 0,000014. Although it was immediately rejected to enter the 0,000015 level, the asset managed to outperform the others cryptocurrency belonging to the top 10, including Bitcoin ed Ethereum.

In short, from this point of view it appears that SHIB continues to benefit from the rallies of Dogecoin, given that this latest price hike occurred on the same day as Dogecoin it rose nearly 80% before undergoing a small price correction. Shiba Inu's $ 1,8 billion trading volume is also impressive, up 167%. However, the figure dropped somewhat as the cryptocurrency suffered a slight drop in its trading price.

That said, the asset's relative strength index (RSI) is in the overbought zone, indicating the need for the SHIB price to stabilize before it can resume upward movement. A crucial aspect to watch out for during this price dumping phase is buying pressure which, if sustained, will likely pave the way for a test of the $ 0,000016 level.

Anyway, in the short term Shiba Inu confirm a uptrend and it is less likely to experience high volatility. Its price movement could fluctuate between $ 0,000015 and $ 0,0000128.

Also note that one of the things that the developers and the SHIB community hope to help the cryptocurrency reach higher levels is the release of the game. Shiba Eternity, a free mobile fighting card game that launched on October 6, 2022, on both Android and IOS platforms, and is part of an ecosystem for the asset that is still under development.

Unfortunately, even after going online, the game failed to give the altcoin the necessary momentum to emerge from its stasis. Fortunately, in the last few days, the cryptocurrency market has started a bull run that has stopped the bleeding for the virtual currency. Recently, SHIB also indirectly took advantage of news of Twitter's acquisition of Elon Musk, taking advantage of DOGE's surge moments after the deal was finalized this week.

Buying Cryptocurrencies? Exchange Binance Binance

Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

Similar posts

Leave a comment

Your email address will not be published. Required fields are marked *

Back to top button