SHIBA INU Price Analysis: SHIB Coin Price Jumps More 50% After A Elon Musk Tweet

• SHIB Coin price sees a jump of more than 55% after the Elon Musk tweet. It is trading with a gain of more than 49% in the intraday session.
• Technical indicators of SHIBA INU suggest a strong upside momentum in price for the future. In contrast, SHIB/BTC pair has seen a gain of more than 42% in the intraday session.

SHIB coin price is currently seeing a strong upside momentum and can soon see a new high in the future. Shiba Inu coin price is currently trading near the value of $0.00001307 and has seen a gain of more than 49% in the intraday session. It has an ROI of more than 815678% which has benefitted various investors. The asset price is currently down by more than 56% from its all time high but can soon reach above it. The upside momentum of SHIB can push the price to a new high. One can invest in SHIB as per their needs and risk adversity.

SHIB token is currently ranked 35th in the CMC and has a market dominance of more than 0.3%. The coin price volume has seen a surge of more than 735% after the ELON tweet. It suggests a strong bullish momentum in price. Volume to market cap ratio of the coin also suggests a strong upside momentum in price. One can invest in Shiba Inu as per their needs and risk capacity.

Bulls Of SHIB Coin Price Might Push To A New High

The weekly technical chart of the Shiba Inu price suggests a strong bull trend in price. On coming to the daily chart the price has formed a strong bullish engulfing pattern on the daily chart. Resistance of the Shiba Inu while going upwards can be seen near $0.000018. The support of the coin price while going down can be seen near $0.000008. The price of the coin is currently trading above the 50 and 100 Daily Moving Average. If the price jumps 15 to 20% above the current level then a strong upside momentum can be seen. The 100 DMA line is near $0.000008. SHIB/BTC pair can also see strong bullish momentum in price in future.

Conclusion

SHIB coin price is currently seeing a strong upside momentum and can soon jump to a new high. SHIB/BTC pair can also see a strong bullish momentum.

Technical Levels

Major Resistance: $0.000018
Major Support: $0.000008

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