As seen over the past week, the price of Shiba Inu has recorded impressive highs and disappointing lows. Overall, it has maintained a 22.37% uptrend, beating clear pullback attempts.
The token’s broader metrics are largely unstable, with the burn rate notably swinging negative most of the time. For its part, Shiba Inu has leaned mostly on the broader market trend to retain its bullish momentum.
Breaking the $0.00003 resistance level places $SHIB
65% away from hitting the $0.00008845 all-time high (ATH) milestone. As mentioned, the token might harness the bull market momentum to reclaim this high as Binance Coin ($BNB
) and Tron ($TRX
) did over the past 24 hours.
Amid the notable uncertainty of crypto markets, the fundamentals are there for Shiba Inu to chart this ambitious price milestone. Per the technical indicators, the Relative Strength Index (RSI) flashes a reading of 67. This implies SHIB has more room for growth before it becomes oversold again.
The next price target for the token is pegged at its 30-day high of $0.00003307.