Play Crazy Game Trusted Gaming News Portal
The price of Shiba Inu (SHIB) has increased by more than 226% against Bitcoin (BTC) in just ten days, even as BTC reaches new all-time highs.
This significant increase mirrors the broader trend seen in many other memecoins, suggesting a potential increase in the popularity and influence of memecoins in the current market landscape.
Shiba Inu Surges 267% in 10 Days: What’s Next?
The price of Shiba Inu has increased by approximately 267% in the last ten days, reaching a critical level fibonacci resistance Approximately 0.000037 dollars.
If SHIB breaks this resistance, the next Fibonacci resistance will be around $0.000057.
breakout of this level There may be a new bull cycle for Shiba Inu, Especially if the golden ratio is exceeded.
Furthermore, bullish signals are indicated by fast moving average convergence/divergence (MACD) histograms and MACD lines that cross bullishly, while Relative Strength Index (RSI) Currently in neutral zone.
Read More: How to Buy Shiba Inu (SHIB) in 2024? All you need to know
Is recovery coming for Shiba Inu?
On the weekly chart, Shiba Inu price is showing a bullish trend. He macd histogram An uptrend is visible from last week, with bullish crossovers on the MACD lines.
However, caution is advised as the RSI strongly signals overbought conditions. Important Fibonacci Support Expected Around $0.00003 and $0.00002 in case of a correction.
Shiba Inu daily chart confirms bullish trend
On the daily chart of Shiba Inu, a golden exponential moving average (EMA) cross indicates a short and medium-term bullish trend. However, the MACD histogram has turned lower, indicating bearish sentiment.
Despite attempts to break the 0.382 Fib resistance around $0.000037, Shiba Inu may pull back towards the 0.382 Fib support around $0.00003.
MACD lines remain bullish, but caution is advised as the RSI indicates strong overbought conditions with no signs of bearish divergence.
SHIB 4H chart: Indicators send mixed messages
On the Shiba Inu 4-hour chart, the Golden Cross EMA confirms a bullish trend, but the MACD lines have already turned bearish, and the histogram fluctuates between bullish and bearish.
Read More: Top 8 Best Free Trading Courses for Beginners in 2024
The RSI is neutral and does not give clear signals. Decisive Factors for SHIB Leadership The first lies in breaking the 0.382 Fibonacci level.
If the support at $0.0003, supported by the 50-4H EMA, fails, the next important Fibonacci support is at $0.00002, supported by the 200-4H EMA.
Alternatively, breakout of Fibonacci resistance at $0.000037 SHIB can be taken to the target of $0.000057.
SHIB surges 226% against BTC in 10 days
against bitcoin, Shiba Inu surged nearly 226% in a ten-day period. In this rally, SHIB is facing a lot of resistance between 0.0000000006 BTC and 0.000000000722 BTC.
Do you have something to say about Shiba Inu, Bitcoin or any other topic? Write to us or join the discussion on our channel Wire, You can also find us here Facebook one of two X (Twitter),
Disclaimer
Disclaimer: In accordance with Trust Project guidelines, this value analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always do your research and consult a professional before making any financial decisions.
:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/J44ABCPIXRA6TAE3MH45PRTLJ4.jpg)
:quality(70)/static.themebuilder.aws.arc.pub/elimparcial-sandbox/1706745207765.png)
:quality(85)/cloudfront-us-east-1.images.arcpublishing.com/infobae/F4CY45ZTUZCBBL5UE53K6F4NEI.jpg)