The price of Shiba Inu has increased by 8% in the past 24 hours, reaching $0.0000261. Let's examine the current market situation and future price movement prospects.
Shiba Inu Price Analysis
The SHIB/USD daily chart presents a cautiously bullish trend. The 50-day moving average has crossed above the 200-day, forming a 'Golden Cross,' indicating potential upward momentum. Support at the $0.00001800 level was crucial in the recent price surge.
Forecasting Short-Term Changes
Despite a slight pullback, SHIB's price remains above key moving averages, indicating a continued bullish outlook. The MACD line and RSI confirm the potential for growth. Expected resistances are the $0.00002733 and $0.00003000 levels. However, caution is advised as the RSI approaches the overbought zone.
Other Projects in the Crypto Industry
Alongside Shiba Inu's rise, the Flockerz project has also gained traction, raising $1.75 million in its presale. This community-driven meme coin with an innovative Vote-to-Earn system rewards participants for significant project votes. Notable YouTuber ClayBro commented on Flockerz's potential as a promising asset.
Shiba Inu continues to exhibit positive momentum, but attention to technical indicators such as the RSI remains crucial for investors. Simultaneously, new projects like Flockerz are attracting interest.
