Shiba Inu Price Records Largest Weekly Gain Since Feb, ATH Next?
The post Shiba Inu Price Records Largest Weekly Gain Since Feb, ATH Next? appeared on BitcoinEthereumNews.com.
Shiba Inu price has soared over 64% in the last 6 days, recording the largest weekly gain since February 2024. This increase comes amid Bitcoin breaking previous all-time highs and the entire crypto market surging to $2.915 trillion. This is just slightly shy of the 2021 top of $3.006 trillion. A crypto analyst shared that he expects one more resistance before SHIB rallies back to a previous all-time high. Can the price of SHIB regain its ATH before the end of the year? SHIB price trades at $0.00002625 on November 11 after increasing by 16.1% in the last 24 hours. Following the footsteps of the largest gainer, Dogecoin (DOGE), SHIB has surged 54.9% in the past week and could be eyeing extended gains this week after clearing one key obstacle. SHIB/USDT Price Chart Shiba Inu Price Hit a Block: Is the Rally Over? The SHIB price currently struggles to break above a key resistance level of around $0.00002750. After surging with volume to this previous level of temporary resistance, traders are taking profit, which has resulted in a pause from the rally. However, crypto analyst Motion Man believes this is nothing to be worried about as he predicts SHIB will rise by 70% in the coming days to test the $0.000046 level, and if it clears his resistance, he expects SHIB to explode to ATH. The Shiba Inu price rally is not over because of a few factors: Coingecko data shows the 24-hour trading volume is up 255%, signaling a recent spike in market investor interest. The SHIB open interest (OI) is up 19.31%, according to data from Coinalyze. This combined with the increasing price suggests traders are entering longs on the meme coin, a bullish signal for the Shiba Inu price. Santiment data shows the price-daily active addresses (DAA)…
Filed under: News - @ November 11, 2024 6:21 am