Shiba Inu Surpasses Rivals in Short-Term Gains
Release: 2024/05/28 14:43 Reading: 977
Shiba Inu Outperforms Rivals in Short-Term Gains
Shiba Inu (SHIB) has outpaced competitors like Pepe (PEPE) in short-term gains over the past week. While SHIB and Dogecoin (DOGE) have seen gains of less than 1%, PEPE has offered investors a significant 22% return. This shift in performance has brought attention to the trading volumes and market dynamics surrounding these popular meme tokens.
Key Trading Volumes
According to data, PEPE's daily trading volume reached $3 billion, eclipsing SHIB's $500 million and DOGE's $1 billion. This surge in volume suggests a prevailing FOMO (Fear of Missing Out) sentiment among investors. In contrast, SHIB has been trading sideways since mid-April, which may be a concern for short-term holders.
Shiba Inu's Breakout Potential
SHIB has been unable to break above the $0.000027 mark, fluctuating between the 50% and 61.8% Fibonacci levels. Repeated retests of the higher range have met with resistance, creating a bearish order block that hinders further upward movement. SHIB bulls need a decisive daily close above the 50% Fib level to see more upside, but the current neutral RSI indicates that strong buying pressure is lacking.
Strategies for SHIB Investors
- Monitor trading volumes to gauge market sentiment and potential price movements.
- Watch for a daily close above the 50% Fibonacci level as an indicator of potential upside.
- Pay attention to on-chain metrics for signals of increased selling pressure or bullish sentiment.
- Utilize mixed signals in the futures market to inform strategic trading decisions.
Despite a rise in SHIB's open interest to $90 million, indicating bullish sentiment in futures, on-chain data suggests increased selling pressure with more SHIB tokens moved to exchanges. Negative market sentiment also underscores a pessimistic outlook for SHIB's price. However, if SHIB expands its trading range, investors can leverage these fluctuations to take profits and strategically re-enter the market.
This article first appeared on BH NEWS: Shiba Inu Surpasses Rivals in Short-Term Gains
Recent news
More>- PEPE Now Available for New York Users to Trade on Coinbase 11-28
- Tether Discontinues Support for EURT Stablecoin: Here’s Why 11-28
- Best Trending Meme Coins in December 2024: 6.5 Billion Coins Sold in BTFD Coin’s Ongoing Presale, Pepe Coin and Ponke on the Rise 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- Missed PEPE? Don’t Miss Out on This New Token That’s Breaking Records at Lightning Speed 11-28
- CHILLGUY meme coin could be at risk as smart money sells 11-28
- Top Trending Meme Coins to Buy in 2025: BTFD Coin Presale Raises Over $150,000 in Less Than 24 Hours Since Going Live, Dogecoin and Dogs Gro... 11-28
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com