As a seasoned crypto investor with years of rollercoaster rides under my belt, I’ve learned to keep an open mind and a steady hand when it comes to the volatile world of digital assets. The recent surge in Shiba Inu (SHIB) has caught my attention, and I must admit, it’s hard not to get excited about a 7% increase in just 24 hours!
Over the past day, there’s been a joyful surge: Shiba Inu, the digital currency inspired by man’s best friend, has risen by 7%. The overall crypto market has seen an uptick as we approach the festive season of Christmas.
Bitcoin’s price surged to around $99,000, approaching another six-figure mark, a sign of widespread bullish sentiment in the crypto market. This enthusiasm appears to have positively impacted Shiba Inu too, contributing to an increase in its cost.
The advancements within the Shiba Inu system could potentially increase investors’ positive outlook as well.
In positive news, Shiba Inu has announced early access to SHIB: The Metaverse.
In reaction to this significant achievement, Shytoshi Kusama, head of the Shiba Inu project, praised the SHIB team by stating, “Indeed, I can’t take all the credit for this. It’s been a collaborative effort of numerous exceptional individuals that made this happen.” He also hinted at more surprises to come, saying, “This is just the beginning. There’s much more on the horizon.
The two-layer solution for Shiba Inus, known as Shibarium, has surpassed a significant achievement, recording over 702 million total transactions.
What’s next for Shiba Inu’s price
Currently, at the time this text is being composed, Shiba Inu was being traded at approximately $0.000023. There has been a 3.35% increase in its value over the past 24 hours, although it has slightly reduced some of its intraday gains. After two consecutive days of growth, Shiba Inu reached a peak of $0.00002406 during today’s trading session. The trading volume of Shiba Inu in the last 24 hours saw an almost 28% increase, reaching about $758.17 million.
Currently, the surge of Shiba Inu has led it to reevaluate the $0.000024 mark, a point where its growth halted on December 21st. The slight dip in Shiba Inu’s price at this level during today’s trading implies that there could be short-term resistance established at this crucial level.
To continue its ongoing recovery, it’s crucial for the SHIB price to break through this resistance level (currently at $0.00002577) and also the Daily Simple Moving Average 50 (SMA 50). Conversely, potential support might be found at the Daily SMA 200 ($0.0000187), a level where Shiba Inu demonstrated strong support back in November and December.
As I delve deeper into my study, it appears that broader market trends could significantly impact the price trend of SHIB. Should Bitcoin and other significant cryptocurrencies sustain their bullish run, these developments might create favorable conditions, or tailwinds, for SHIB’s price movement as well.
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2024-12-25 17:14