Home Latest News Shiba Inu Enters Stalemate, Here's When It Might End – U.Today

Shiba Inu Enters Stalemate, Here's When It Might End – U.Today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
One of the biggest meme cryptocurrencies on the market is stagnant as the daily average volatility of the token is back in the 2-3% range – catastrophically low for an asset whose value is mostly based on speculation.
Four days ago, SHIB started a sudden rally and topped out with an almost 20% price increase in less than 48 hours. The main reason behind such rapid and unexpected growth was mostly tied to the recovery of the digital assets market in general.
Unfortunately, with the lack of momentum on the market in general and SHIB in particular, the rally quickly faded out, and the token reversed back to the value we saw previously. At press time, Shiba Inu is moving closer to the trendline support level it has tested numerous times previously.
In the case of a spike in trading volume, the aforementioned trendline support will act as a foundation for another rally. Sadly, Shiba Inu network activity and the current volatility on the market suggest that there will be no movement in the upcoming days or even week, unless something brings inflows to the cryptocurrency market.

Related
DOGE and SHIB Price Analysis for September 11

From a technical perspective, moving averages on Shiba Inu are slowly meshing with each other, which might hint at a potential volatility spike in the future. For the last three months, SHIB was moving in a low volatility uptrend, with some attempts to break through previously.
Luckily, the asset has not yet returned nor shown any signs of testing the 2022 bottom at $0.000007. At press time, the token is trading at $0.000012 and showing a mild 0.78% price correction in the last 24 hours.

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.
Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.

source

Previous articleI’m a tabletop game fanatic – here’s what I’m picking up this Prime Day – The Independent
Next articleMicrosoft Teams for Education just got a new home page and more in time for back-to-school – Windows Central
The youngest in team, he is responsible for reporting all the rumors and leaks related to gadgets and software. Other than spreading rumors, Bill also likes to write about social networking and cyber security.