Leading crypto analyst and trader Ali Martinez created a buzz in the crypto world after he shared his latest prediction on Twitter. The expert believes that SHIB could be headed for a 10% price movement, leaving the coin’s army ecstatic.
However, traders must exercise patience as they wait for confirmation. Martinez emphasized that a 30-minute candlestick close above $0.0146 or below $0.0142 will be the deciding factor for the direction of its trend.
The prediction by Martinez has certainly piqued the interest of the cryptocurrency community. The SHIB Army, a group of dedicated supporters, will be eagerly waiting to see if Martinez’s prediction comes to fruition.
Shiba Inu Displays Bullish Trend Despite Market Shift
The meme-inspired cryptocurrency continues to make waves in the market, showing a bullish trend despite the recent market reversal. With a 20% higher volume of bids, than asks, the community remains optimistic and confident in the asset’s future growth.
This optimism is reflected in the 67% increase in value that the coin has seen since the start of the market reversal. This recent rise in Shiba Inu’s value could be linked to the forthcoming launch of Shibarium, a layer-2 blockchain built on the Ethereum mainnet and supported by Shiba Inus.
Shibarium is positioned as a layer-2 network on top of the Ethereum mainnet and aims to provide developers with an efficient platform to develop decentralized applications. This results in lower transaction fees and improved network scalability.
In essence, Shibarium’s goal is to allow the community to further the project’s vision. It has generated excitement among Shiba Inu community members, potentially fueling further growth in the currency.
Moreover, market indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) also support a bullish outlook for the asset.
The MACD displays a bullish crossover, indicating that the trend is likely to continue, while the RSI, measuring the trend’s strength, has risen above the 50 levels.
Nevertheless, when it comes to the coin’s current price analysis, data from CoinMarketcap shows that it is trading at $0.00001412, with a significant increase of about 20% in the weekly chart.
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