- The long/short ratio of the Shiba Inu crypto is 0.9944.
- The price of the SHIB crypto has advanced by 28452981% from its all-time low price.
Shiba Inu, a decentralized meme coin, gained popularity for its community-led approach and cute appeal, influenced by figures like Elon Musk. Founded by anonymous figure Ryoshi, it thrives as an experiment in decentralized organization, with ShibaSwap as its DEX plans for SHI stablecoin aim for global adoption and financial ecosystem expansion.
Shiba Inu crypto has a market cap dominance of 0.01% and the volatility of the crypto is extremely high resulting in 15.52%. The sentiment of the crypto is bearish as per Coincodex and the fear and greed index is at 66 indicating greed.
The market cap of the Shiba Inu has advanced by 4.6% in the last 24 hours which is further followed by an advance of 10.85% in the market cap of the crypto. Moreover, the value of the traded volume of the crypto is $645.79 Million.
Shiba Inu is the 11th largest cryptocurrency in the global crypto market. It has a market cap value of $13.596 Billion and has a market cap dominance of 0.58%. The supply inflation of the crypto is also negative resulting in -0.04% which is very low.
The volume/market cap ratio of the crypto is 4.68% which shows medium liquidity in the price of the crypto. Also, the circulating supply of the crypto is 589.289 Trillion SHIB and the total supply of the crypto is 589.534 Trillion SHIB. Moreover, the maximum supply of the crypto is 589.74 Trillion SHIB which is further followed by a fully diluted market cap of $13.612 Billion.
Shiba Inu Crypto Technical Analysis
The derivatives trading volume for the Shiba Inu crypto has witnessed and advance of 12.34% in the last 24 hours. This further has resulted in a traded value of $193.63 Million and in an open interest of $56.24 Million.
The long liquidation recorded in the last 24 hours is slightly higher than the short liquidation. Moreover, the resulting long liquidation for the crypto is worth $490.75K. This is further followed by a short liquidation of $377.23K.
Sentiment Vs Weighted Sentiment
The positive and the sentiment of the Shiba Inu crypto are unchanged and are trading at a significant low. This is further followed by a decline in the weighted sentiment of the crypto indicating low activity in the social media.
SHIB Crypto Technical Analysis
The price of the SHIB crypto broke out above the falling wedge pattern a few days ago and advanced by 280% since the breakout above the zone. The price further started to decline and has lost its gain by 50% from the top of the breakout.
The price currently taking rest and is sustaining above the breakout levels and might continue to advance to higher level.
SHIB/USD Chart by TradingView.com
The price of the SHIB crypto has declined below the 50-day EMA while it is still sustaining above the 200-day EMA. Also, the following EMAs are trading in a golden cross and if the price of the crypto bounces back above the 50-day EMA, a further surge in the crypto price might be witnessed.
The MACD and the signal line indicate for a weakness in the trend of the crypto on the daily chart as the following metrics have declined below the zero level and are trading in a bearish cross.
The RSI is also showing weakness in the momentum of the SHIB crypto price as the RSI value has declined below the 14-day SMA and the 50-level. The RSI has been declining from the overbought zones.
Summary
Shiba Inu faces uncertain prospects despite recent market cap gains and a breakout from a falling wedge pattern. Technical indicators show mixed signals, with a decline in sentiment and weakening momentum. While sustaining above key levels, further price movements remain unpredictable, influenced by market sentiment and trading dynamics.
Technical Levels:
- Support Levels: $0.00000580 and $0.0000180
- Resistance Levels: $0.0000450 and $0.0000546
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.