In the last few days, there has been a remarkable activity in the crypto money markets. Especially the decision in the Ripple case caused the rise of many cryptocurrencies, especially XRP. However, as expected, investors started to make profits after yesterday’s increase and accordingly, the market is experiencing some losses. Big winners like XRP, Stellar (XLM) and Cardano (ADA) in yesterday’s rally have now lost some of their gains. The total crypto market cap also fell 2.35% to $1.22 trillion.
Despite the general decline in the market, the popular meme coin Shiba Inu has seen surprising gains in the last 24 hours. The Shiba Inu exhibits a rare paring movement.
At press time, SHIB is trading at $0.00000836, up 5.94% in the last 24 hours. Meme coin is also up 13.98% in the last seven days. “The bull run is imminent,” Shiba ecosystem official Lucie tweeted. saying He pointed out the interesting price action of the Shiba Inu.
What’s next for meme coin?
The Shiba Inu has surpassed the key $0.0000077 barrier near the daily MA 50, which has been blocking price increases for weeks. After this level, the bulls captured the psychological level of $0.000008, where 26,330 addresses bought 14.72 trillion SHIB.
However, the next hurdle for SHIB is the $0.000009 level, where 23,380 addresses bought 11.5 trillion SHIB. If traders take action to take profits, SHIB may target the $0.0000077 level as a breakout support.
You can follow the current price action here.