Increase in Shiba Inu Trading Volume
The recent decline in the crypto market has had significant effects on Shiba Inu (SHIB). Today, the overall market cap decreased by 4.4% to $2.31 trillion, indicating that the bears are increasing their pressure on the market. The price of Shiba Inu was also affected by this negative weather; It dropped by 5.78% to $0.0000163. In the last month, SHIB's price decreased by 6.07% and its market value fell to 9.6 billion dollars.
However, it cannot be said that Shiba Inu paints a completely pessimistic picture. The significant 37.11% increase in trading volume suggests that investors are considering SHIB as a buying opportunity at these lower price levels, providing potential signals for future recovery. Currently, the trading volume is at $163.62 million, which shows that the activity of traders on major exchanges has increased. High transaction volume is observed on platforms such as OKX, Bitget and BingX.
In addition, SHIB's Relative Strength Index (RSI) stands at 41. This level indicates that the coin is not in the oversold zone and the overall bull trend may continue. If the RSI value is between 40 and 50, it may indicate that support levels are strong and a possible recovery.
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