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Заголовок 4 Bullish Shiba Inu Signals as the SHIB Price Taps a 3-Week High: Details
Дата 20240920

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4 Bullish Shiba Inu Signals as the SHIB Price Taps a 3-Week High: Details

4 Bullish Shiba Inu Signals as the SHIB Price Taps a 3-Week High: Details

Author: Dimitar Dzhondzhorov

Last Updated Sep 20, 2024 @ 07:14

Here s why SHIB s price may keep rising in the near future.

TL;DR

Shiba Inu s recent resurgence coincides with an increased large
transaction volume and a rise in Shibarium s activity.

However, SHIB s RSI• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Линии Боллинджера » Индекс относительной силы RSI

• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Технический анализ » Индекс относительной силы RSI
hitting the overbought level of 70 indicates that a
price pullback may be imminent despite the overall positive market conditions.

Further Rally on the Horizon?

Shiba Inu (SHIB) has been among the best-performing cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта lately,
with its price rising to a three-week high of $0.00001457 on September 19. The
meme coin gained momentum following the Fed s decision to lower interest
rates on September 18. It is worth noting that the entire crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта headed
north after the long-anticipated pivot. SHIB Price, Source: CoinGecko

Certain on-chain indicators suggest SHIB s price may keep pumping in the
short term. IntoTheBlock data shows that the In The Money metric
is up 1.79% on a daily scale . The technical analysis tool measures the change
in the number of SHIB investors currently sitting on paper profits. As of the
moment , 47% of all Shiba Inu investors are in the green, while 51% are
underwater.

Large transaction volume (where each SHIB transaction exceeds $100,000)
reached over $18 million on a 24-hour scale, representing a 122% increase
compared to the figure observed on September 19.

The metric s increase could trigger a positive investor sentiment and
drive an additional number of participants into the ecosystem, hence a fresh
flow of capital.

The next factor we will touch upon is the resurgence of Shibarium. Daily
transactions on the layer-2 blockchain solution have been gradually rising in
the past few days, whereas active accounts have also headed north.

The main purpose of the protocol is to foster the development of the Shiba Inu
ecosystem by enhancing scalability, lowering transaction costs, and improving
speed. As such, some market observers believe its further progress could
propel a price increase for the meme coin. For more updates on the ecosystem,
make sure to check out our Shibarium news .

Shiba Inu s exchange netflow is the fourth bullish factor we will focus
on. Over the past 30 days, outflows have predominantly surpassed inflows,
hinting at a shift from centralized platforms to self-custody methods. This
could be considered a good sign for the bulls since it reduces the immediate
selling pressure.

It s Not All Sunshine and Roses

Despite the overall favorable conditions, there is one element suggesting
SHIB s value could experience a pullback in the near future .

Specifically, this is the Shiba Inu Relative Strength Index (RSI• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Линии Боллинджера » Индекс относительной силы RSI

• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Технический анализ » Индекс относительной силы RSI
), which
jumped to the overbought territory of 70 today (September 20).

Conversely, readings below 30 signal that the asset could be oversold, meaning
a price rally might be just around the corner.

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Tags: Shiba Inu (SHIB)

============= Итог: 2,8934 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта 2,7686 ; Экономика#Финансы#Финансовый рынок#Рынок ценных бумаг#Линии Боллинджера #Индекс относительной силы RSI


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