Shiba Inu receives a weak short-term technical score of 19 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 19% 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.
Trading Analysis
SHIB is currently $0.000001 (11.71%) above its 30-day low of $0.000009728 and -$0.000003 (-22.10%) below its 30-day high of $0.00001395. Additionally, SHIB is under its average price of $0.000011789 over the past month of trading with its current price of $0.000010867. Overall, the recent trading history of Shiba Inu suggest that traders are currently bearish on the token.
SHIB has a relatively high market cap for a token with a total market value of $6,406,670,398.49. 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 $2,113,447,712.60 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 $282,564,390.76 exchanged.
Summary
SHIB’s recent trading over the past month give it a weak short-term technical score as its recent price movement give traders reason to be more bearish on the token in the short-term.
