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 good 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.
At a similar pace, the Relative Strength Index (marked in purple) is rising towards 70, after falling below 50 in the early morning.
The increase in its trading volume also enhances tradersâ 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.
