Shib will help you become a millionaire in this bull run!
Shiba Inu’s intraday trading session fell by 8.42%, giving the token a value of $0.00002760. Meanwhile, the trading volume also fell by 18.41% and currently stands at $602.19 million.
Moreover, the market sentiment for Shiba Inu is leaning towards a bearish outlook. Despite this, the token’s Greed reading is still 78, indicating that the token may soon recover. However, this rise depends on bullish triggers that may materialize sooner than expected. This expectation depends on the token’s ability to break through key resistance levels.
Meanwhile, Shiba Inu has performed well so far this year, gaining 147%. Moreover, SHIB is currently trading at an impressive 86.16% above its 200-day simple moving average of $0.00001483. This trend indicates strong market momentum and high liquidity based on its market cap.
Since its launch in late 2020, SHIB has been growing its global following. With its massive following, the token has been used by numerous institutions for payments. This growth can be attributed to its appeal and endorsements from influential figures such as Elon Musk and Vitalik Buterin.
All in all, while Shiba Inu faces short-term challenges, its long-term trajectory appears promising. Therefore, if the underlying triggers for bullish momentum materialize, SHIB could soon see further gains.
Watch Comments Section
