Shiba Inu Price Price Prediction: SHIB Pumps 17% In A Week As A FOMO Frenzy Sends Pepe Unchained Presale Hurtling Toward $65M
Release: 2024/12/02 22:39 Reading: 547
Shiba Inu Price Surge
Despite a recent 2% dip, Shiba Inu ( src="/uploads/20241202/1733153408674dd28045d15.png">) has experienced a significant 14% surge over the past week, reaching $0.00002965 as of 3.30 a.m. EST. Trading volume has skyrocketed to $6.02 billion, representing a 36% increase.
The meme coin, currently the second largest by market capitalization, reached a six-month high of $0.000030 yesterday. This is the first time it has traded at this level since March of this year.
On a monthly chart, SHIB's price has climbed by 67%. While it has experienced a minor correction in the last 24 hours, the overall trend remains bullish.
Shiba Inu Price Prediction
Despite the slight correction, SHIB's price remains elevated. There are indications that it may begin to recover once Bitcoin finds its bottom.
Shiba Inu's Bollinger bands have widened after a brief period of tightness, indicating a bullish signal. The price is also showing signs of breaking away from the lower band and potentially reaching the middle point or even the upper band.
However, traders are closely monitoring the Relative Strength Index (RSI), which has dropped to 30 for the third time in 24 hours. This suggests that SHIB holders have repeatedly oversold the token after minor price recoveries.
This may indicate that day traders are buying the dip and selling shortly after, but it also signals that they are ready to capitalize on any upward movement in the market.
As soon as Bitcoin ceases to suppress prices, there is a strong possibility that SHIB will rally to recover its losses and potentially retest resistances at $0.000032 and $0.000033.
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