Is SHIB Waking up Again?


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In just one day, a whopping 1.44 trillion SHIB was issued. moved around the network. This could be a sign that SHIB is gearing up for a spike in volatility, which could ultimately lead to a bullish performance on the BOJ. market.

We have seen a lot of SHIB being sent to various organizations such as cryptocurrency exchanges and wallets. For example, a lot of money went to Robinhood and Coinbase. Seeing so much SHIB moving could mean more people are preparing to buy or sell SHIB in large quantities, which directly causes volatility. This can cause prices to rise or fall rapidly.

SHIB/USDT chart by TradingView

Next, let’s talk about the price of SHIB. It appears that SHIB and the entire crypto market are looking to turn things around after the correction. The current price of SHIB is just above support at $0.000027. This level is very important as it is the only level that can bring SHIB close to $0.00003. If prices rise above this level, they could begin to move towards year-to-date highs.

The next big test or “resistance” for SHIB price is $0.00002987. If SHIB price is able to break above this, the next stop could be at $0.00003200. However, if it is unable to sustain above $0.00002707, the $0.00002 price level could be tested, which would be a significant price decline that SHIB may not be able to recover from.

Looking to the future, if SHIB continues its good work and the overall crypto market remains bullish, the price of SHIB could rise as many were expecting. It looks like SHIB is stretching and getting ready to run again.

About the author

Armand Sirignan

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