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- 1 Shiba Inu coin is currently trading at $0.00000774 with a +0.65% surge in the last 24 hours.
- 2 SHIB’s current market cap is $4.556B with a decline of 0.25% in the last 24 hours.
Top Whales Added 152 Billion Shiba Inu. Now they hold 5.9 Trillion. However, as per the Etherscan.io data that the 20th biggest SHIB Whale has added 157.72 billion SHIB, worth $1.22 Million to their wallet in a single transaction. However, the transaction took place about 11 hours before press time. Over the last 24 hours, the trading volume of Shiba Inu coin is $118.767M which is up by 4.48% the last 24 hours.
Shiba Inu coin is currently trading at the level of $0.00000774 with an advance of +0.78% in price resulting in a rise of 0.00000006 in the last 24 hours. Shiba Inu coin started to advance on June 12th, 2023 after making a low of $0.00000639 and was unable to break further low resulting in the formation of a higher high structure.
Shiba Inu Coin Technical Analysis
SHIB is currently trading under a bearish crossover but has breached the 20-day Exponential moving average and is sustaining above but hasn’t yet crossed the 50-day Exponential moving average which represents the uncertainty in the market. If buyers continue to push the market, Shiba Inu may break the 50-day Exponential moving average and we can see a good uptrend in the upcoming days which will also lead to a bullish crossover.
The RSI has been trading in the oversold zone for the last few days and reversed from the oversold zone and is now heading towards the level of 70 and is currently taking support at the level of 50 by sustaining above it in the daily timeframe, this makes the sentiment of SHIB positive for the future event.
SHIB has been declining for a long time and has recently failed to break the last swing low. It is currently showing a change in structure by creating a higher swing that is yet to be broken which represents mild bullishness and uncertainty in the market.
Conclusion
SHIBA is trading below the 50-day Exponential moving average and has also broken the 20-day Exponential moving average. The RSI is trading above the level of 50 coming from the oversold zone indicating market uncertainty as the technical indicators. Shiba Inu is trading in a no trading zone as of now and we can wait for a bullish crossover of 20, 50-day Exponential moving average in order to create any long position.
Technical Levels
- Support Levels- 0.00000717
- Resistance Levels– 0.00000915 and 0.00000988
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
