Memecoin SHIB Witnessed 5.18% Surge Within Past 24 Hours

• SHIB breaks the symmetrical triangle and surges more.
• The token trades above 200MA, and the RSI value is 62.93.
• SHIB bearish prediction is $0.00001051.

Shiba Inu token interest has been growing among Ethereum whales for a while. WhaleStats, a website that monitors whales, reported on September 25 that Shiba Inu’s BONE was one of the most popular smart contracts. In the last 24 hours, it was among the top 1000 ETH whales.

The SHIB/USDT 1-hour chart is shown above. According to the chart, SHIB has broken out to new highs after trading above its 200-moving average. In the past week, SHIB’s price has fluctuated between $0.00001212 and $0.0000102. More traders are interested in SHIB, like the ETH whales, as the price is above the 200 moving average.

The hourly chart of SHIB/USDT shows that SHIB cannot be squeezed in its structure anymore and finally broke out of its symmetrical triangle. The bullish candlesticks show that SHIB has been heading toward the positive higher high zone, and SHIB price can reach the $0.00001218 level. But if this breakout is fake, there is a high chance that SHIB will reach the floor of $0.00001501 again.

SHIB presently has a relative strength index of 62.93. Nevertheless, the RSI SMA is positioned above the RSI line and is sloped positively. As a result, a cluster of buy orders was created at the price of $0.00001107. Since then, a growing number of people have begun hoarding SHIB rather than dumping it.

According to CoinMarketCap, SHIB is ranked 14 in total market capitalization. There are over 549 trillion SHIB in circulation, and their value has hit $0.00001141, at the time of writing. In the previous twenty-four hours, $260,136,817.84 worth of SHIB was traded. Moreover, the price has surged by 5.18 per cent in the last twenty-four hours alone.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.