Dogecoin

Pepe

Shiba Inu

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/shiba-inu-surpasses-rivals-in-short-term-gains" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Surpasses Rivals in Short-Term Gains</a><br></p>
<p style="text-align: justify">Shiba Inu (SHIB) has outperformed competitors like Pepe (PEPE) in short-term gains over the past week. Despite SHIB and Dogecoin (<a href="https://en.bitcoinhaber.net/dogecoin-asserts-dominance-in-meme-coin-sector" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>) recording gains of less than 1%, PEPE offered speculators a significant 22% return. This performance shift has drawn attention to the trading volumes and market dynamics surrounding these popular meme tokens.</p>
<h2 id="what-are-the-key-trading-volumes">What Are the Key Trading Volumes?</h2>
<p style="text-align: justify">According to <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, PEPE’s daily trading volume reached $3 billion, substantially eclipsing SHIB’s $500 million and DOGE’s $1 billion. This surge in volume indicates a prevailing FOMO (Fear of Missing Out) sentiment among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>. Meanwhile, SHIB has been trading sideways since mid-April, which might be a concern for its short-term holders.</p>
<h2 id="is-a-breakout-imminent-for-shib">Is a Breakout Imminent for SHIB?</h2>
<p style="text-align: justify">SHIB has been unable to surpass the $0.000027 mark, fluctuating between the 50% and 61.8% Fibonacci levels. Repeated retests of the highest range have been met with resistance, a bearish order block that hinders further upward movement. SHIB bulls need a decisive daily close above the 50% Fib level to see more upside, but the current neutral RSI suggests that strong buying pressure is still lacking.</p>
<h2 id="concrete-strategies-for-shib-investors">Concrete Strategies for SHIB Investors</h2>
<ul>
 <li>Monitor the trading volumes to gauge market sentiment and potential price movements.</li>
 <li>Watch for a daily close above the 50% Fibonacci level as an indicator of potential upside.</li>
 <li>Pay attention to on-chain metrics for signals of increased selling pressure or bullish sentiment.</li>
 <li>Utilize mixed signals in the futures market to inform strategic trading decisions.</li>
</ul>
<p style="text-align: justify">This situation suggests SHIB may remain stagnant for a while. Despite a rise in SHIB’s open interest to $90 million, indicating bullish sentiment in futures, on-chain data suggests increased selling pressure with more SHIB tokens moved to exchanges. Moreover, negative market sentiment underscores a pessimistic outlook for SHIB’s price. However, should SHIB manage to expand its trading range, investors could leverage these fluctuations to take profits and strategically re-enter the market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/shiba-inu-surpasses-rivals-in-short-term-gains" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Surpasses Rivals in Short-Term Gains</a></h5>

Shiba Inu Surpasses Rivals in Short-Term Gains

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