Shiba Inu risks drop with SHIB's 574% October's price rally near exhaustion
Shiba Inu's massive gains all across October may pare on potential bearish divergence signals and an overvalued relative strength index. Shiba Inu (SHIB) may see a pullback by almost 25%-35% on fears that the cryptocurrency's excessive price rally in October has left it overvalued, a key indicator shows.Dubbed Relative Strength Index (RSI), the indicator measures the magnitude of an instrument's recent price changes to evaluate its oversold and overbought conditions. The result can be anywhere between the number 0 and 100, with a reading below 30 showing the instrument's oversold and above....
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SHIB is notably mirroring its mentor Dogecoin's price moves from the Feb.–April 2021 session, raising possibilities of dump ahead. Shiba Inu (SHIB) has emerged as one of the best investments heading into the fourth and final quarter of 2021, with its price rising by over 390% in the first week of October. Nonetheless, the spin-off meme cryptocurrency now risks wiping most of those gains in the coming sessions.Yuriy Bishko, a Ukraine-based market analyst, discussed the potential bearish scenario based on Shiba Inu's recent price trends, which appear eerily similar to those recorded in the....
SHIB, along with the greater majority of the crypto space, stared at price dips for the last 24 hours with the asset declining by 7.7%. Shiba Inu seen growing five times towards the end of October after Shiba Eternity release SHIB down 8.8% for the past seven days Shiba Inu headed for another bearish momentum The 13th largest cryptocurrency having a total market capitalization of $5.9 billion currently trades at $0.00001019 according to tracking from Coingecko. The dog-themed altcoin akin to Dogecoin has now lost 8.8% of its price for the past seven days and is on a position that is far....
The Shiba Inu breakout appears almost ten days after SHIB's addition to Binance Card. Shiba Inu (SHIB) broke out of its prevailing "cup-and-handle" pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks.Shiba Inu could soar 50%A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in the second. Notably, the price trend develops under a common resistance level.Typically, cup-and-handle patterns resolve after the price breaks above the resistance level; SHIB did....
Shiba Inu (SHIB) along with another meme coin Dogecoin (DOGE) have had the worst crashes. However, SHIB is singing a different tune as it turns green after suffering a bearish downturn for a long time. Unlike DOGE, the crypto community is very optimistic about the future of Shiba Inu’s price. Shiba Inu is a popular dog meme coin that is said to rival Dogecoin. SHIB is a high-performer in the crypto space but also suffered a catastrophic drop like the rest of the crypto market. However, in October, SHIB was able to bounce back by more than 100% and reached an ATH of $0.00008616. Shiba Inu....
Shiba Inu (SHIB) momentarily moved out of its bearish streak that’s been going for the past few weeks on October 25 when the crypto market made a rally to reclaim the $1 trillion market cap turf. SHIB went up by 10% since October 25 before its recent price correction Shiba Inu lost 2% of its value over the last 24 hours The crypto is still up by almost 8% for the past week In doing so, the Dogecoin spin-off crypto managed to upend weeks of being in a downward trend that’s been very brutal to the 14th ranked cryptocurrency in terms of market capitalization. SHIB, however,....