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Shiba Inu Price Analysis: SHIB/USD sets an all-time high at $0.00008799

Shiba Inu price analysis

TL;DR Breakdown

  • The Shiba Inu price analysis remains highly bullish.
  • The coin set a new all-time high of $0.00008799 today.
  • SHIB/USD price climbed by over 50 percent.
  • The remaining crypto market has a bearish sentiment.
  • Crossing the $0.00008799 mark will require greater momentum from the bulls.

It is quite an interesting day for the market, as the price has stabilized at $0.000078 after the coin set a high of $0.00008799. In comparison, the remaining crypto market seems to have a negative sentiment based on the heat map below:

Shiba Inu Price Analysis: SHIB/USD sets an all-time high at $0.00008799 1
Cryptocurrency heat map by Coin360

Bitcoin has lost its value by 5.74 percent while Ethereum marked a decrease of 5.96 percent. The same sentiment is shared by other cryptocurrencies. Though, Shiba Inu continues to stay in the greens after consistently staying bullish for the last 6 days.

Shiba Inu price analysis
Shiba Inu Price Chart by TradingView

Currently, the RSI line on the 1-day Shiba Inu price analysis is above 90 with a rapidly increasing gradient, hence signaling an extremely overbought market. Apparently, the bull-run that Shiba Inu is going through is attracting more and more buyers. At the same time, the histograms in the MACD analysis are also in the green and a crossover is not likely anytime soon.

Shiba Inu 24-hour price movement

Shiba Inu Price Analysis: SHIB/USD sets an all-time high at $0.00008799 2
Shiba Inu Price Chart by TradingView

Today, Shiba Inu is fluctuating around the current price of 0.000078 after rising from the closing price of 0.000049 yesterday. Furthermore, the coin also briefly touched a high of $0.00008799 before giving some way to the bears.

Currently, Shiba Inu has a market cap of $30,935,944,189.45, placing it on the 11th spot. Furthermore, the trading volume has gone up by 225.41 percent, which is huge. Based on that, Shiba Inu price analysis today is quite fascinating, considering the fact that the rest of the crypto market is currently bearish.

Shiba Inu 4-hour Price chart: Can SHIB/USD push higher?

Shiba Inu Price Analysis: SHIB/USD sets an all-time high at $0.00008799 3
Shiba Inu Price Chart by TradingView

Well, based on the indications, Shiba Inu can certainly push higher up in the next few hours. First, the RSI line is steeply increasing with the levels currently at 90.33. Furthermore, the Shiba Inu price analysis based on MACD also gives some positive hopes for a further increase.

For now, Shiba Inu set a resistance at the last all time high of 0.00008799. Pushing the market beyond this point would require a greater momentum from the bulls.

Shiba Inu Price Analysis: Conclusion

All in all, SHIB/USD is constantly in a bull-run over the last 5 days. Just 24 hours ago, SHIB/USD set a high of 0.00004965, and climbed over 50 percent today. It is expected that the market will rise positively in next few hours. However, pushing beyond the recently set all time high is possible albeit difficult.

While you wait to see what course the Shiba Inu price analysis will take, we suggest you go through our extensive articles on crypto investing.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Shummas

Shummas

Shummas is a technology enthusiast and a researcher with a keen interest in blockchain and Artificial Intelligence. He also loves playing games and music in his spare time to keep his creative juices flowing.

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