December 20, 2017 marked a milestone for the cryptocurrency space as bitcoin crossed over $10,000. Technical analysts see this as an indicator that cryptocurrencies are gradually entering mainstream consciousness and becoming less of a novelty. But why is it so hard to predict currency price movements?
The “shiba inu coin news today” is a cryptocurrency that has been around for a while. It was originally released as a joke, but it has gained some traction recently. The price has been staying above the $0.00007 level.
Earlier this week, the cryptocurrency market saw a correction, with Shiba Inu being one among the best performers at that time.
The cryptocurrency market is rebounding from its recent downturn, with most currencies’ values rising by more than 1% in the last 24 hours. After falling below $59k earlier this week, bitcoin is again trading over $61,000.
Ether reached a new all-time high of $4,400 only a few hours ago, after surging more than 10% in the previous 48 hours. The rebound comes after Ether fell below the 4,000 mark only a few days ago. At the time of writing, the other major cryptocurrencies are also on the rise.
Shiba Inu has been one of the best performers in the recent week, with a gain of nearly 160 percent in only seven days. Shiba’s market capitalization has risen to about $40 billion, surpassing Dogecoin to become the ninth-largest cryptocurrency by market capitalization.
Price forecast for Shiba Inus
Because of the cryptocurrency’s strong performance over the previous week, the SHIB/USDT 4-hour chart is now positive. Following the current advance, the MACD line is in the positive zone, but the relative strength index (RSI) is close to 60, suggesting that the coin is nearing overbought territory.
Shiba Inu has to break through the pivot at $0.0000715 today in order to proceed towards the first major resistance level at $0.0000860. If SHIB is to reach Wednesday’s all-time high of $0.00008872 in the next hours, it will need support from the larger crypto market. In the near run, the current all-time high may act as a ceiling for additional gains.
If SHIB fails to break through the pivot at $0.0000715, it may find it difficult to defend two key levels: its 38.2 percent FIB at $0.0000568 and the first major support level at $0.0000544. SHIB should avoid the sub-$0.000050 levels over the next several hours unless there is a sustained sell-off from the market.
The “shiba inu coin prediction” is a cryptocurrency that has stayed above the $0.00007 level for a long period of time. This makes it an interesting investment opportunity.
Frequently Asked Questions
Are Shiba Inus high energy dogs?
A: Yes, Shiba Inus are high-energy dogs. They need to be walked twice a day for exercise and they make good watchdogs because of their alertness.
Why is Shiba up so much?
A: Shiba is a cultural phenomenon and hes also very smart.
Does Shiba have a limited supply?
A: Shiba is a limited edition product. As it is an exclusive, the only way to acquire one of these for yourself would be to purchase it from our store or through somebody else who has obtained one. Once that person decides they dont want their Shiba anymore, then youll have your chance!
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