As a seasoned crypto investor with battle-scars from countless market swings and unpredictable price movements, I must admit that today’s sudden surge in Shiba Inu (SHIB) has piqued my interest. The 5% increase within hours, reaching its highest point in eight days, was a sight to behold. However, the subsequent fall back below the opening price has left me with a sense of déjà vu – a wick on the candlestick that seems eerily reminiscent of past price actions.
Recently, an intriguing upward trend has been noticed on the graph representing the well-known meme-based cryptocurrency Shiba Inu (SHIB). Starting from the latest daily period, the value of SHIB experienced a swift surge of approximately 5%, reaching its highest point in eight days at $0.0000147.
During that period, an increase in trading activity, signifying robust buying interest, coincided with the spike. Subsequently, the value of SHIB reversed its growth, dropping below the initial price of the day, creating a long tail on the daily candlestick chart representing a large loss.
This wick, marking the high and low points of the day, raises a key question.
Will wick be filled?
At present, it seems that the most captivating query revolves around who might be the significant player or possibly a collective of major investors, as they’ve been purchasing SHIB today, leading to an increase in its price.
From one perspective, it demonstrates that there are individuals prepared to purchase Shiba Inu tokens at their current value. Conversely, the subsequent rise and fall (pump and dump) suggests a shallow order queue for SHIB, rendering it more susceptible to fluctuations and instability. This volatility might complicate attempts to forecast SHIB’s short-term price trend.
Read More
- ENA PREDICTION. ENA cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- USD PHP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- SHIB PREDICTION. SHIB cryptocurrency
- USD COP PREDICTION
- Red Dead Redemption: Undead Nightmare – Where To Find Sasquatch
- USD ZAR PREDICTION
- ENJ PREDICTION. ENJ cryptocurrency
2024-08-11 17:14