Shiba Inu (SHIB) has seen a major drop in its market performance over the past 24 hours, with bears dominating the market and causing a 0.94% drop in the asset's price from its previous closing at $0.000008797. This has led to a 1.01% decrease in the market capitalization of the asset and a 7.79% drop in its 24-hour trading volume. Nonetheless, indicators such as the Relative Strength Index (RSI) is showing that the negative momentum is waning. By crossing over the 20-day Moving Average (MA) and forming green candlesticks, it hints that buyers are entering the market, signaling a potential reversal of the bearish trend. If the TRIX indicator turns positive, then the bullish trend is likely to be further bolstered and attract more investors to enter the market. All in all, there are encouraging signs that the SHIB market is on the way to a bullish correction.
Rosalie White
- 2023-05-18
SHIB Market Performance Sees a Drop
SHIB has seen a 0.94% drop in its recent market performance. Although bearish trends are dominant, indicators are signaling a potential reversal. Buyers may be entering the market, in which case, a bullish trend will be established.
