Shiba InuThe price of is close to making a move that could save the popular memecoin project from five months of selling pressure. The developments also support this conclusion, and investors are doing their best to make it happen. A rise in the price of Shiba Inu has been expected for a long time, and investors are now pushing the memecoin project upwards.
What’s Going On On The Shiba Inu Front?
SHIB It is currently receiving continued support from its investors, as indicated by its consistently positive funding rate. This consistent support is crucial to maintaining upward momentum and could signal growing confidence among the Shiba Inu community. A positive funding rate reflects more investors willing to pay a premium to hold long positions, which is a strong indicator of an upward trend. This shift in investor behavior represents a significant shift from previous periods of uncertainty and volatility. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Additionally, the Chaikin Money Flow (CMF) indicator reveals that inflows into Shiba Inu have been strong over the past month and a half. Consistent inflows suggest that capital is moving steadily into the asset, further supporting its recovery and future growth potential.
With all these developments, stable positive funding rate and strong inflows Shiba Inu highlights a healthier market environment for the memecoin project. These factors are essential for the memecoin project to continue its recovery and could pave the way for further price increases if the trend continues.
SHIB Graphic Analysis
Shiba InuThe price is trading at $0.00001439 and is aiming to turn the $0.00001473 resistance into support. Doing so could trigger a rally on the memecoin front. This would help SHIB break out of its five-month downtrend and start a recovery.
A possible rise to the upside could allow a rally to $0.00001961. If tested or broken, this critical resistance level would confirm SHIB’s recovery and indicate a 40% rally. On the other hand, if the breakout of $0.00001473 fails, consolidation will continue and Shiba Inu’s price will continue to trade below the resistance. This process could prolong the wait for the recovery and invalidate the bullish thesis.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
