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- Shiba eternity and Shiba inu birthday was not able to push the price above its consolidation range. It is currently trading near the value of $0.00001199.
- The volume of the Shiba Inu has seen a drop of 14% with a pump price of more than 2.2%. SHIBA/BTC pair has seen a pump of more than 0.05%.
SHIBA INU became two years old and has shared various messages to their community. They have revealed their much awaited game Shiba eternity. With the release of the game SHIBA INU is gaining solid traction among the whales.The lead developer of SHIB ,Shytoshi Kusama has given a glimpse of the card available in Shiba Eternity.
Shiba inu is currently trading near the value of $0.00001202 with a gain of more than 2.5% as per the coin market cap. Shiba/BTC pair has seen a jump of 0.05% in the previous trading session and is looking for a breakout. Despite the birthday of SHIBA and the launch of the game the asset price has not seen a significant impact. The market cap of SHIBA has also seen a push of 2.6% from previous day and is approximately about $6,596,449,572.
Is the SHIBA Army Ready For a Breakout?
The consolidation of SHIBA can easily be seen from the past few months.The asset is currently trading below 100 and above 50 Daily Moving Average. The consolidation of SHIBA can be easily seen inside a rectangular pattern. If SHIBA Inu is able to break out above the rectangular consolidation, a strong rally can be seen in the future.The current correlation between the SHIBA and Bitcoin is 0.95 which suggest that if Bitcoin crosses above $28k a strong rally in Shiba Inu can be observed.
RSI: RSI of the Shiba inu is currently forming a higher-highs and can see an upside trend in the future. It is at 62 suggesting its presence in the oversold zone.
Conclusion
SHIBA has seen a strong rally in the past but is currently consolidating from the past few months. The launch of SHIBA eternity and their birthday has not made any impact on the price.SHIBA Inu has a strong community and various projects which can push the price further in future.
Technical Levels
Major Support: $0.00000825 to $0.00000886
Major Resistance: $0.0000135 to $0.00000141
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
