As a seasoned crypto investor with years of market fluctuations under my belt, I’ve learned to appreciate the unique dynamics that holidays like Thanksgiving bring to the table – or should I say, chart? With traditional markets closed, it’s a time when the crypto world operates somewhat independently, free from the usual influence of big players and their Bitcoin/Ethereum ETFs.
On November 28th, it’s Thanksgiving Day in the United States, a holiday during which the country’s financial markets take a break. As a result, there will be no trading involving Bitcoin and Ethereum Exchange-Traded Funds (ETFs) by traditional market players on this specific day.
It’s quite possible that significant forces in the market won’t put pressure on crypto prices today, so cryptos like Shiba Inu (SHIB) may be traded without much external influence.
On the chart showing the price fluctuations of the well-known meme cryptocurrency today, during the holiday period, the token’s price has been moving in various directions. Notably, it has found support at a significant level approximately equal to $0.000025 per SHIB.
As an analyst, I observed an intriguing pattern in the token’s price chart. Specifically, a period of price instability – likely a spill – was followed by a buyout event. This combination created a prolonged ‘hairpin’ shape on the hourly chart, suggesting potential market dynamics that warrant further investigation.
Initially at $0.0000234, the SHIB price increased by 12.5% before experiencing a 3% adjustment. This typical correction, often seen as beneficial, has brought the current price to its present level, suggesting a potential continuation of an upward trend.
Without any significant outside influence, it’s reasonable to expect that this upcoming Thanksgiving could provide an opportunity for the well-liked meme cryptocurrency, Shiba Inu (SHIB), to maintain its upward trend, fueled by the optimism of market participants and the SHIB community.
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2024-11-28 14:09