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Shiba Inu (SHIB) is riding a tidal wave of momentum, smashing through barriers and pointing skyward. Priced at $0.00002757, SHIB has flexed its muscles, pushing its market cap up by a whopping 15.96% to $16.89 billion. With a 24-hour trading volume surge of 94.86% to $1.97 billion, SHIB is making waves in the crypto seas.
From its humble beginnings at $0.00002472, SHIB has charted a course upward, brushing off minor turbulence along the way. Today's ascent has shattered multiple resistance points, signaling robust buying activity. Yet, looming overhead is the formidable $0.00003000 summit, a challenge yet to be conquered.
The $0.00002472 support level is a linchpin for future climbs, while breaching $0.00003000 is crucial for sustained growth. This peak presents a lofty goal, but SHIB enthusiasts remain undeterred.
Data from Coinglass paints a picture of escalating activity, with trading volume skyrocketing by 120.36% this week to $541.18 million. SHIB futures contracts open interest has surged by 10.95% to $121.66 million, despite a long/short ratio tilting towards shorts. Nevertheless, the trading landscape remains vibrant.
Technical signals flash warnings and opportunities alike. The 1-day stochastic RSI hovers above the signal line at 90.79, hinting at an overbought market ripe for correction. Conversely, the 1-day MACD signals bullish momentum, while the 1-day ADX suggests a period of consolidation or uncertainty.
Insights from Changelly's experts paint a nuanced picture, forecasting SHIB's June 2024 trajectory between $0.0000288 and $0.0000382, with an average around $0.0000355. As SHIB continues to ride the waves, the future holds both challenges and opportunities for savvy traders.
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