CandleFocus Shiba Inu (SHIB) Decouples From Bitcoin (BTC): All-Time High Next?
2024-12-06
Author: Content Editor
The price of the meme-inspired cryptocurrency Shiba Inu (SHIB) has remained steady above $0.00003 per token, even amidst the volatility in the broader crypto market. When Bitcoin experienced a significant drop, SHIB only fluctuated by 5.4%, which is considered within normal daily volatility for an altcoin. The persistence of buyers and their desire to purchase SHIB is evident, but it remains to be seen if it will reach a new price record. Currently, there are 56.14 trillion SHIB tokens in liquidity pools, representing a sell wall for the cryptocurrency. If buyers are able to absorb this volume, there is a high chance of achieving an all-time high if the crypto market environment is favorable. Overall, the necessary ingredients for SHIB's success are in place, given its strength during Bitcoin's fall and its stronghold above a key level.
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