The altcoins were slowly getting on the bullish train while Bitcoin [BTC] was still lagging behind. Shiba Inu [SHIB] took a new turn as the bears in its market bid adieu and took in the bulls. The market was recovering from yesterday’s carnage and most of the assets gently turned green.
Bitcoin [BTC], XRP, and Polkadot [DOT] were still sinking in the red sea. The king coin was taking a rather long pause at the $61K zone. Ethereum [ETH] was also stuck below $5K. Binance Coin [BNB] was certainly on a roll as its price surged over $600 in no time.
Shiba Inu’s volatility left the entire market worried. The meme coin has been sitting still under the crypto limelight. Despite enduring a massive fall over the last couple of days, the altcoin grew back stronger. At the time of writing, SHIB was trading for $0.00005946 with a 26% surge in the last 24-hours.
In terms of market cap and ranking, Shiba Inu witnessed a significant plummet. The altcoin went from overpowering its rival, Dogecoin [DOGE] to falling down to the 11th position. During press time SHIB’s market cap was noted at $32.7 billion while DOGE’s market cap was at a high of $34 billion. Additionally, the overall market cap of the crypto-verse was seen inching closer to $3 trillion.
Shiba Inu [SHIB] one-hour price chart on Binance
The short-term price chart of SHIB/USDT noted a battle between the bulls and the bears. The Awesome Oscillator was siding with the bear as it laid out sturdy red closing bars. The Chaikin Money Flow [CMF] indicator was clearly in support of the bull. The CMF marker remained over the zero median noting a bullish notion in the SHIB market.
Furthermore, the Relative Strength Index [RSI] noted that Shiba Inu was still being widely purchased by the buyers in its market.