Shiba Inu Has a Huge Rally, with Key Resistance Levels in Mind
CryptoPotato claims that Shiba Inu is back in the news after a huge surge. Late February saw a surge in cryptocurrency purchases, pushing the price to heights not seen since 2022. Since then, SHIB’s price has climbed by more than 300%, which is an amazing accomplishment in a short amount of time, particularly when considering the technical aspects. If buyers keep pushing at this rate, the current resistance at $0.000037 is unlikely to hold.
The buy volume reached levels reminiscent of the previous bull market, indicating that current bull market is well underway and far ahead of schedule. As of the writing of this essay, buyers are not exhibiting any signs of weariness. The market was caught off guard by the pace of this advance, and the weekly RSI well illustrates this. At this moment, it is above 90 points, the highest level recorded, indicating both strong bullishness and caution.
Bullish bias exists for SHIB, and meme currencies are back and seem to be in control of the market at the moment. As long as this continues, Shiba Inu’s rally appears set to continue. Keep a watch on the $0.000037 key resistance. Expect SHIB to surge towards $0.000047 next if that fails.
Conclusion
ble market activity. However, it’s crucial to acknowledge the inherent risks associated with investing in digital assets, characterized by their high volatility and market fluctuations. This analysis does not constitute investment advice but rather offers a projection of market trends based on current data. Investors are advised to conduct thorough research and consider their risk tolerance before engaging in cryptocurrency trading.
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