Shiba Inu was able to incline by 28% after surpassing its lowering channel last week. As anticipated, SHIB’s price dropped a zero and surpassed $0.000011. SHIB has already produced two consecutive red candles on its daily chart as a result of the correction that was necessary due to the overbought conditions.
SHIB attempted to break above $0.1061 earlier in the day. However, the 38.2% Fib level resisted it. As can be seen in the graph below, a similar level stopped SHIB’s course in November of last year, after which it entered the bearish pattern highlighted.
Therefore, it is extremely important for SHIB bulls to break through for any additional advancement from this position to be sustainable.
The top 100 Ethereum whales have purchased SHIB for $4.2k over the last 24 hours. However, throughout the same period, they sold tokens totaling $12,283 in value. Additionally, ITB data supported the bears’ small advantage.
The bulls and bears indicator, put simply, counts the number of addresses that bought or sold more than 1% of the total volume traded on a particular day. Bulls are those who purchased more than 1% of the total volume, and bears are those who sold more than 1% of the total volume.
Upbit Supports Shiba Inu And GAL’s BTC
Shiba Inu has been revived by Upbit, a well-known cryptocurrency exchange in South Korea, by being added to its list of fiat transactions. The exchange has expanded its reach by including GAL’s BTC in addition to SHIB. Recently, the so-called Dogecoin killer was struggling to compete with its Meme-coin adversary, but things are finally starting to look bright.
Analysts evaluated the Shiba Inu price movement as a result of this listing and predicted a rise to the optimistic goal price. The meme currency may recoup its losses and start an upswing with an eye on a price target.
Shiba Inu has, however, already been listed on several significant exchanges, including Bitstamp and Robinhood. At the time of press, Shiba Inu (SHIB) was priced at $0.00001269 with a daily rise of 20.94% according to CMC.