CandleFocus Shiba Inu Rockets 7% in Holiday Market Surge, What's Next?
2024-12-25
Author: Content Editor
The price of Shiba Inu (SHIB), a dog-themed cryptocurrency, has increased by 7% in the last 24 hours, benefiting from the overall positive sentiment in the cryptocurrency market during the Christmas holiday. The SHIB team announced early access to SHIB: The Metaverse, which has garnered positive investor sentiment. Shiba Inu's layer-2 solution, Shibarium, has also achieved a milestone of over 702 million total transactions. Currently trading at $0.000023, Shiba Inu has approached the $0.000024 level, showing potential resistance. To sustain the recovery, SHIB must overcome this resistance as well as the daily SMA 50 at $0.00002577. Support is expected at the daily SMA 200 at $0.0000187. The broader market conditions, particularly Bitcoin and other major cryptocurrencies, could impact SHIB's price trajectory.
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