The price of Shiba Inu (SHIB) reached a key resistance level and is now the 15th most valuable cryptocurrency
Shiba Inu Is Now 15th Most Valuable Cryptocurrency
Shiba Inu (SHIB) is the 15th most valuable cryptocurrency on the list compiled by CoinMarketCap. This puts SHIB in the 14th spot, right behind TRON (TRX), and ahead of Dai (DAI), which is in the 16th spot.
Over the past 24 hours, the price of Shiba Inu has gone up by 6.22 percent, reaching a high of $0.00001284 and a low of $0.00001252. This price is equal to about 0.000000000411 Bitcoin (BTC) and 0.000000006066 Ethereum (ETH).
When you look at longer time frames, the price of SHIB has gone up by 3.27 percent in the last week and down by 48.17 percent over the previous 30 days.
At the moment, the market value of SHIB is $6,952,965,247. The 24-hour trading volume for the meme token was $500,778,424. This is an increase of 85.90% from yesterday’s number.
SHIB is also on CoinMarketCap’s list of “trending” coins, in seventh place.
SHIB 4-Hours Price Movement
On the 4-hour chart, SHIB has moved past the 8 and 20 EMA lines. Will it stay above the two lines now that it is there?
As it stands, the move in SHIB’s price was followed right away by pressure to sell on the 4-hour chart. The angle of the RSI line with respect to the RSI SMA is another sign that SHIB’s price may drop a bit.
After the impulse, the RSI line’s slope went from positive to negative in a big way. The RSI is also between “overbought” and “oversold.”
The price of SHIB has also reached a key resistance level, which is something else to keep in mind. Since the 8 EMA is currently above the 20 EMA, it may go up above the level.
How much volume comes into the market in the next 4–8 hours will determine the final direction of the move.
