Shiba Inu becomes one of the highest gainers within the last 30 days as SHIB price rose over 300%. Hours after a Bloomberg journalist, Weisenthal shared his thoughts about the two popular meme coins, Dogecoin and Shiba Inu, SHIB token flipped its rival as it’s ranked 10th position on coin market cap surpassing Dogecoin as the 11th position.
Is SHIB Better Than DOGE?
He shared his thoughts on why the SHIB token was preferred and better than Dogecoin – who only sit and wait for whales to tweet about it. On the other hand, Shiba Inu has a lot more to offer to its users. Examples include; the Shibaswap, shibarium blockchain, its stable coin SHI, and ShibaNet – their e-commerce platform.
Secondly, the journalist made mention of how cheap Shiba Inu is, which is a lot more accessible for retail investors.
In the news today Shiba Inu surpasses bitcoin and Ethereum in trading volume on the U.S largest crypto exchange Coinbase as it attends its new all-time high of 0.00008784.
Though news speculates the same crypto exchange had experienced a short minute break down due to the unprecedented traffic caused by the $SHIB token.
SHIB Price Analysis: Weekly Chart Analysis
This week, the SHIBA INU, the DOGE Coin Killer finally breaches the ATH of 0.00005 and now sets a new milestone to take out the 0.0001 round-number resistance for the first time.
The relative strength index prints higher values that’s way above level-75, an indication that we are in a strong uptrend as the RSI has not dipped below level-25 since the project launch.
SHIB Price Analysis: Daily Chart Analysis
The SHIBUSDT exited a prolonged sideways market structure on the daily time frame by signaling a series of bullish divergence patterns with the second pattern on 21 September ’21.
The SHIB price now trades in a strong uptrend after the RSI continued to print higher values above level-25 and level-75 with a hidden bullish divergence signaling a continuation of the trend on 15 October ’21.
There’s a heightened level of FOMO [Fear of Missing Out] on the SHIB/USDT parabolic swing as new traders scamper to profit from whatever is left of the uptrend.
SHIB Price Analysis: 4 Hr Chart Analysis
A view from the intraday 4HR time frame shows the SHIBA INU token in a stable and growing uptrend as the RSI shows high values that’s greater than level-25. Traders can scale into the uptrend by taking one step down to the 1HR time frame where the SHIBUSDT will likely show RSI values below level-25.
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