In the last 24 hours, a popular meme coin Shiba Inu There was a 2.97% increase in the price of the coin. Currently trading at $0.00002341, SHIB has a market cap of $13.79 billion and is the 11th largest coin in terms of market cap. Last day’s transaction volume increased by 1.79% and reached 379.74 million dollars.
Shiba Inu Price Prediction
In recent hours, SHIB has shown significant resilience and a strong recovery. This increase follows a series of declines earlier today and caught the attention of investors and analysts. Last week, SHIB increased slightly by over 3%, with prices fluctuating between $0.0000224 and $0.0000261.
Despite the market corrections experienced over the past month, the current increase indicates growing optimism among investors and could potentially indicate a shift from bearish to bullish market conditions. This change in sentiment indicates a shift in investor confidence and cryptocurrency It may indicate that it heralds a new phase for the
In the latest news, meme coin Shiba Inu attracted attention with a significant increase in the kill rate, rising over 5500%. According to Shibburn, approximately 26 million SHIB tokens were removed from circulation yesterday. This action injected optimism into the market for the meme coin.
SHIB’s Impressive Burn Rate Increases Market Optimism
The impressive increase in burn rate of 5564.09%, with 25.93 million SHIB tokens destroyed, indicates a positive outlook. Market watchers predict that the decline in total supply could lead to an increase in the value of SHIB. This development offers a promising perspective for Shiba Inu owners and investors.
If the market recovery continues, meme coin could surpass the $0.000025 mark and potentially increase its price to $0.00003. This increase may open the door for it to reach the level of $0.00003. With upward pressure continuing, SHIB may rise to $0.00005 by the end of April.
However, a negative market pullback could pull SHIB towards the $0.000023 support level. Negative market sentiment could drop its price to as low as $0.000022. An increase in bearish activity may confirm a declining trend.
Technical Indicators Suggest a Stable Path for SHIB
Four-hour technical indicators for meme coins reflect a period of relative stability in price movement. The Moving Average Convergence Divergence (MACD) line is almost flat, indicating a significant lack of momentum in either direction. The Relative Strength Index (RSI) is hovering around 49.77, indicating a balanced market situation with no clear overbought or oversold signals.
Bollinger Bands on the 4-hour chart of Shiba Inu indicate a period of consolidation. The upper Bollinger Band is currently at $0.00002391, while the lower band is at $0.00002233. This narrow band range indicates low volatility, with the price mostly fluctuating between these values over the observed period.
