Shiba Inu coin price forecast as trading volume rises to $600 million; Is it time to buy it?
•The price of the Shiba Inu coin (Shiba Inu-SHIB) rose by 3% today, reaching $0.00002909, coinciding with the rise of the digital currency market as a whole by 4.5% during the past 24 hours. Despite rising by 1.5% over a week and 4.5% over two weeks, the Shiba Inu actually declined by 15% over the past 30 days.
•Despite its disappointing performance, the Shiba Inu's trading volume - which has risen from $350 million to $700 million over the past two days - indicates that it is about to see a steady rise. Also, with the entire market eagerly awaiting the upcoming Bitcoin halving, SHIB could see strong gains in the near future.
•Shiba Inu coin price forecast as trading volume rises to $600 million; Is it time to buy it?
•Now, it seems that it is a perfect time to buy the Shiba Inu coin, as all of its technical indicators highlight the beginning of its price rise, with its 30-day moving average indicator (indicated in orange) rising above its 200-day counterpart (shown in blue). ) approximately one day ago, forming a golden cross pattern that can often indicate a breakout in the upward direction.
•The increase in its trading volume also enhances traders’ expectations of the possibility that the Shiba Inu currency will rise strongly in the next few days. This is also likely because whales (large investors) have increased their holdings of the currency, with one huge financial transfer worth $19.26 million occurring today.
•Therefore, the current state of optimism prevailing over the future prospects of the price of SHIB coin seems logical, especially with expectations of improved performance of the crypto market as a whole, which is largely attributed to the expected Bitcoin halving on April 20.
