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Just 1.9 Trillion SHIB in 24 Hours: What’s Really Happening?
The Shiba Inu (SHIB) market has been witnessing an extraordinary surge, with a staggering 1.9 trillion SHIB being traded within just 24 hours. This unprecedented volume has sent shockwaves throughout the crypto community, leaving many wondering what is driving this massive outpouring of interest.
According to Tomiwabold Olajide, renowned cryptocurrency analyst and technical expert, it seems that Shiba Inu’s recent price fluctuations have been a result of market sentiment shifting in favor of buyers. The RSI (Relative Strength Index) has returned to the midway, indicating a balance between supply and demand forces.
As such, Tomiwabold predicts that SHIB will not exceed $0.00003344, but rather continue to fluctuate within this range, bouncing off it several times before eventually breaking through. A successful push above $0.00003344 would grant buyers the upper hand, potentially propelling the price towards $0.000039 and even $0.000046.
On the other hand, should SHIB fall below the 50-day SMA of $0.0000244, bears will take control, putting downward pressure on the coin’s value.
It is crucial to note that this market fluctuation may be influenced by upcoming events such as the United States Federal Reserve’s interest rate meeting scheduled for December 18th. Any positive outcome could bolster investor confidence and see SHIB prices rise further.
As always, we recommend exercising caution when trading cryptocurrencies and conducting your own research before making any investment decisions.
The RSI has returned to the midway
Source: u.today
