Crypto Voice News | Shiba Inu (SHIB) Breaks Downtrend Amid Surge Toward New Highs

Shiba Inu Breaks Downtrend Amid Surge Towards New Highs,
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Shiba Inu (SHIB) is in major recovery mode to continue the broader positive trend in the market.

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Over the last 24 hours the price of the Shiba Inu has oscillated between two major extremes; From $0.000008873 to as low as $0.000009341. Amid the triggered volatility, the token's price is currently pegged at $0.000009195, up 3.55% in 24 hours.
Shiba Inu's recovery provides different information about its endurance. Market participants are already returning to the cryptocurrency as trading volume increased 108% to $151,728,659, with the market cap sitting comfortably at $5,419,814,948.
Restarting Bullish Prospects,
Seeing a positive rise in Shiba Inu and its associated tokens is an unusual sight in the market today, given how unstable this month's growth has been. Although declines are visible, the token is now restarting investor bullish expectations.
According to a chart shared by analyst SHIB KNIGHT, the Shiba Inu broke out of the downtrend on the 4-hour chart and reversed its trend. Despite this visible break, the headwinds for the token are not entirely clear as the historical bearish trend still has a strong tone.
For short-term holders, this current increase can be viewed as a selling window to capitalize on their profits. To maintain the bullish expectations of many, long-term owners of the Shiba Inu may need to remain strong to prevent unusual declines.
From a technical perspective, the SHIB/USD 4-hour chart shows the Relative Strength Index (RSI) is in neutral territory at 49.53. This means that the price of the asset is sensitive to any influence from bulls or bears.
Relying on Visible Catalysts,
Shiba Inu is currently thriving. However, it may need support from its ecosystem to sustain this growth. Shibarium's growth needs to translate towards the SHIB price to support the current momentum.
Shiba Inu is a project with many goals but relatively little real-world impact. With significant innovations ranging from the proposed burn portal to Shibarium's effort to establish itself as a competitive layer-2 network, SHIB investors with a longer-term goal have the right foundations to continue HODLing.
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Disclaimer, The information provided in this video is not investment advice.
financial advice is not trading advice, it is for informational purposes only,
You should not consider any of the video content as investment advice.
Please seek advice from your financial advisor before making any investment decisions.

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