Shiba Inu receives a weak long-term technical score of 15 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
SHIB currently holds a superior long-term technical analysis score than 15% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.
Trading Analysis
Shiba Inu’s price is -$0.0000002 (-1.64%) below its 100-day moving average price of $0.000010801 as its price at the moment sits at $0.000010625. Additionally, SHIB is $0.0000034 (-152835542.77%) higher than its 52-week low price of $0.000007197 while -$0.00001915 (-33589379.82%) under its 52-week high of $0.000029771. The current trading price in relation to its long-term average along with its 52-week high and low, gives SHIB an average long-term technical score of 15. Long-term trading movement of Shiba Inu suggest that investors are bearish on the token at the moment.
Shiba Inu has a market capitalization of $6,263,620,311.19 and a relatively high average daily volume with $1,783,131,268.43 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, SHIB’s volume is below its seven day average with 249,230,225.27 exchanged.
Summary
Technical analysis of Shiba Inu over the past year results in the crypto receiving a a weak long-term technical score of 15 as its price movement in that time has given traders reason to be bearish on the token in the long-term.
