LIVE
Time to buy #Shiba Inu as trading volume reaches $600 million?
The Shiba Inu price rose 3% to $0.00002909 today, while the crypto market rose 4.5% in 24 hours.
$SHIB is up 1.5% in a week and 4.5% in a fortnight, yet the meme token is down 15% in 30 days.
Despite this dismal result, the coin's trading volume has increased from $350 million to $700 million in the previous two days, suggesting a sustained ascent.
With the market eagerly awaiting the next Bitcoin halving, #SHIB might rise shortly.
Time to buy Shiba Inu as trading volume reaches $600 million?
SHIB's signs indicate a rise, making it an excellent time to purchase.
A golden cross occurred a day ago when its 30-day moving average (orange) crossed its 200-day (blue). This may herald a breakthrough rally.
Similarly, its relative strength index (purple) is increasing toward 70 after falling below 50 early this morning.
Because of SHIB's growing volume, traders may think the currency would soar healthily in the next days.
This seems possible as whales have been collecting SHIB, including a $19.26 million transfer today.
The market is also looking well, therefore the Shiba Inu pricing is appropriate to be optimistic.
This is mostly due to the April 20 Bitcoin halving.
With strong Bitcoin ETF volumes, the halving simply boosts traders' confidence and alts.
One of the most fundamentally powerful meme currencies is Shiba Inu.
Shiba Inu, unlike Dogecoin, has its own ecosystem of applications and platforms, which is one reason.
ShibaSwap DEX and Shibarium, a layer-two network created last year, are examples.
Since its August launch, shibarium has increased the coin's burn rate.
These factors, together with the coin's popularity, will enable the Shiba Inu price climb consistently.
In a few weeks, it might hit $0.000040, then $0.00010 during the second part of the year.
LIVE