What do the Short-Term Technicals Predict for Shiba Inu (SHIB) Saturday?

Saturday, August 13, 2022 01:53 PM | InvestorsObserver Analysts

Shiba Inu receives an average short-term technical ranking of 66 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 66% 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.

InvestorsObserver is giving Shiba Inu a 66 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 $0.000003 (29.06%) higher than its 30-day low price of $0.000009855 while also $0.000000 (-2.66%) lower than its high of $0.00001307 from the past month of trading. Meanwhile, SHIB's current price of $0.000012719 is above its average price of $0.000011690 set over the past month of trading, leading to an average short-term technical score. In summation, the recent trading history of Shiba Inu suggest that traders are currently neutral on the token. SHIB has a high market cap compared to the majority of tokens with a total market value of $6,983,542,178.38. 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 is high as $2,851,584,036.18 worth of the token is typically traded over a 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 past 24 hours SHIB's volume is below its average with $380,488,973.57 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).