Bulls remain in control in the cryptocurrency market. However, not all major coins are in the green. Shiba Inu remains the top gainer for the 3rd consecutive day. SHIB Price Rallied more than 300% since a week.
Shiba Inu market cap surges significantly, making it the 12th largest cryptocurrency. The meme token rally continued into the mid-week session, where it entered the top 20. The Dogecoin killer boasts a $15.5 billion market up, holding the 12th spot in the market.
Flash crash or ATH ? Where is the SHIB Price heading Next ?
SHIBA INU, an Ethereum-based spinoff from Dogecoin, saw the third day of huge gains. At the time of writing, SHIB’s price is trading at $0.00003157 with a 40.9% surge in the last 24 hours.
The meme token must stay above $0.00003290 to continue the uptrend. Right now, SHIB is only 18% from reclaiming its May 10 all-time high.
What goes up comes down. SHIB price has good support at 0.000025 and 0.000020. We may see one more push in the coming days if the WHALE is still buying up to 0.000049 then a correction to 0.000025/20.
As per the Analyst in the trading view, SHIB is likely going to correct down from within the range of $0.00003296 – $0.00004000. This means the meme coin is likely to undergo correction once it hits the ATH.
Currently, SHIB is trading above EMA’s crucial EMA’s 20,50, and 100 EMA, indicating a super bullish trend. RSI is indicating an overbought zone, at 92 levels indicating a strong bullish sentiment in this token
Overall, SHIB has seen three days of growth, and there is a high chance of seeing a short-term correction to the high of the previous day around $0.000028. If bulls fail to hold this level, the correction may continue to the zone of $0.000025.