Altcoins

Attention Traders! Is Shiba Inu Warming up Before Its Next Rally?

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Highlights

    Shiba Inu refuses to step down from its momentum, as it rebounds from its support levels thrice.

    Investors and traders lookout to buy the dip, before SHIB’s another leg-up.

Shiba Inu is now under the radar of both professional traders and amateurs. The meme coin has brought in an influx of first-time buyers in the crypto space. The doge-killer has been leveling up, despite its setbacks. Which is astonishing for enthusiasts in the industry. The coin has rebounded thrice consecutively from its support of around $0.00006 levels.

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SHIB Price To Rebound Soon

 SHIB Price at press time is trading at $0.00007164, with the market cap around $35,504,526,558. While the 24-hours trading volume floats around $24,850,052,602. The coin hit its ATH of $0.00008616 the previous day. A bullish pennant is visible on the charts, hinting at a breakthrough to its new ATH of 0.00010000. Gulping up yet another zero from its price tag.

In addition, the indicators such as RSI, and MACD, hint at strengthening of the coin. As it consolidates along with its average price. However, a surge in trading volumes by around 20%, will be a helping hand for SHIB’s leg-up to highs. The coin has made a comeback from its support levels, not once but thrice. Which has increased faith among holders. 

Also Read : War In the Meme World ! Dogecoin Giving a Comeback into The Game!

The meme coin did flip its opponent the previous day in terms of market cap. However, a spike in DOGE’s price helped it reclaim its throne from SHIB. On the contrary, SHIB is not far off from DOGE’s market cap. SHIB holders are hopeful of the coin surpassing Dogecoin in the short term.

Collectively, a major chunk of investors in the industry are considering buying the dip, before another run. As the stats do seem promising for the digital asset’s march towards its new milestone. The meme coin has created billionaires, returning massive gains to their investments of just over a thousand grand. The coin has also imbued fellow meme coins to rise towards the limelight.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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