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Should You Buy Shiba Inu (SHIB) Friday?

Friday, September 02, 2022 04:52 PM | InvestorsObserver Analysts
Should You Buy Shiba Inu (SHIB) Friday?

Shiba Inu receives an average short-term technical ranking of 49 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. SHIB has a superior recent technical analysis than 49% of tokens based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

Short-Term Technical - 49
InvestorsObserver is giving Shiba Inu a 49 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Shiba Inu!

Trading Analysis

SHIB is currently $0.000001 (5.16%) above its 30-day low of $0.000011531 and -$0.000006 (-31.65%) below its 30-day high of $0.00001774. Additionally, SHIB is under its average price of $0.000012926 over the past month of trading with its current price of $0.000012126. Overall, the recent trading history of Shiba Inu suggest that traders are currently neutral on the token.
SHIB has a relatively high market cap for a token with a total market value of $6,657,969,802.68. Shiba Inu's market value is relatively high since the largest 100 cryptos have a market cap above $1 billion and SHIB meets that criteria. Shiba Inu's average volume meanwhile is high with $2,437,001,001.06 worth of the token traded over a typical 24 hour period. The cryptos volume is relatively high due to the most traded 100 cryptos typically having $100 million worth of the crypto traded over a 24 hour period. As of the past 24 hours, SHIB's volume is below its average with $322,208,050.49 exchanged.

Summary

Shiba Inu's price movement over the past month has led to a an average short-term technical score due to recent trading giving more neutral signals for traders on the token's short-term movement. Click Here to get the full Report on Shiba Inu (SHIB).

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