Shiba Inu receives a strong short-term technical ranking of 79 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 79% 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.
Trading Analysis
SHIB is currently $0.000002 (30.84%) above its 30-day low of $0.000008046 and -$0.000001 (-11.21%) below its 30-day high of $0.00001186. Additionally, SHIB is above its average price of $0.000009826 over the past month of trading with its current price of $0.000010527. Overall, the recent trading history of Shiba Inu suggest that traders are currently bullish on the token.
Shiba Inu’s market cap of $6,203,545,516.53 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 $1,356,968,831.98 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 $198,928,487.55 exchanged.
Summary
Shiba Inu’s trading over the past 30 days leads to its a strong short-term technical score due to recent price movement suggesting more bullish signals for traders on the token in the near future.
