Should You Buy Shiba Inu (SHIB) Wednesday?

Wednesday, August 03, 2022 11:48 AM | InvestorsObserver Analysts

Shiba Inu receives an average short-term technical score of 49 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the token by looking at the price movement to determine if it is trending in the right direction. SHIB holds a better recent technical analysis than 49% of tokens at its current price. Investors who are focused on short-term growth and looking for hot and trendy coins will find the Short-Term Rank especially relevant when allocating their assets.

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!

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Trading Analysis

Shiba Inu is $0.000002 (21.94%) above its 30-day low of $0.000009833 while -$0.000001 (-8.23%) below its 30-day high of $0.00001307. In addition, SHIB's current price of $0.000011990 is above its 30-day moving average price of $0.000011222, leading to an average short-term technical score. Overall the recent trading history of Shiba Inu suggest that investors are neutral on the token at the moment. Shiba Inu's market cap of $6,583,443,782.59 is relatively high for a token. 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. Meanwhile, SHIB's average volume is high with $2,181,161,180.48 worth of the token traded over an average 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. Over the last 24 hours, SHIB's volume is below its usual with $343,725,515.20 exchanged.

Summary

SHIB's recent trading over the past month give it an average short-term technical score as its recent price movement give traders reason to be more neutral on the token in the short-term. Click Here to get the full Report on Shiba Inu (SHIB).