Shiba

Crash

2024

Shiba Inu

<ul> 
 <li>Shiba Inu has shown a price increase of 22.54% in the last 24 hours.&nbsp;</li> 
 <li>The token’s daily trading volume recorded a 0.12% decline according to CMC data.</li> 
</ul> 
Leading on-chain analyst, CryptoQuant’s author ‘binhdangg’ observed that 60% of the top 50 cryptocurrencies have lost their 2024 gains. Amid increasing liquations, leading tokens have shown significant price declines. Meanwhile, dog-themed meme coin Shiba Inu has exhibited notable price hikes in the last 24 hours.&nbsp; 
According to CMC <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noreferrer noopener nofollow">data</a>, the memecoin has factored in an 22.54% increase within the past day. Notably, the token was trading at $0.00001148 in the last hours of August 5. However, at the beginning of August 6, SHIB experienced a price breakout hiking to an intra-day high of $0.00001405. At the time of writing, Shiba Inu was trading at $0.00001335.&nbsp; 
Moreover, the token recorded a 0.12% decline in daily trading volume, despite its one-day increase. Additionally, the token’s RSI stands at 27.34 indicating the existing selling pressures in the memecoin according to TradingView <a href="https://in.tradingview.com/symbols/SHIBUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">data</a>.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd-TMlsRnZnhMhO9M743crdLuXSBJlq99HRp4fhKm0Q8E-PsZI_BNSSYBW44WkalZUn8Lyqqfb2qgE89xjRvqByXLiSav2aH0A8Yw8_k_W6iswybtZTJYGVhpuvkjQedmNEJb0oM9VeeCDw-l-9j6Xz7WvJ?key=l287m2xyQNemuaNtOYsfpA" alt="">
 <figcaption class="wp-element-caption">
 SHIB/USDT Daily Price Chart (Source: <a href="https://in.tradingview.com/symbols/SHIBUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div> 
Zooming out, over the past week Shiba Inu’s price performance stands at a 19.83% decline. The token traded at the $0.000016 level in the beginning of the week, after which it slid to find support at current trading levels. Moreover, SHIB’s short-term 9-day MA stands below the long-term 21-day MA highlighting current bearish trends.&nbsp; 
<h3 class="wp-block-heading" id="h-how-will-shiba-inu-shib-price-perform-in-the-coming-months-nbsp">How Will Shiba Inu (SHIB) Price Perform in the Coming Months?&nbsp;</h3> 
In the past month, the memecoin has shown a price performance of 23.15% decline. Moreover, the token’s <a href="https://www.tradingview.com/x/ykQKbgHz/" target="_blank" rel="noreferrer noopener nofollow">HMA</a> stands below the current trading price reaffirming the overall downward trend, despite recent hikes. Meanwhile, Shiba Inu has recorded $1.16 million in liquidations in the last 24 hours, as per coinglass data.&nbsp; 
However, according to market analysts if Shiba Inu manages to sustain the current positive momentum it might witness additional price breakouts. TheNewsCrypto analysts have <a href="https://thenewscrypto.com/shiba-inu-shib-price-prediction/" target="_blank" rel="noreferrer noopener">predicted</a> a bullish price of $0.00004981 for SHIB in 2024.&nbsp; 
Meanwhile, the largest cryptocurrency, <a href="https://thenewscrypto.com/is-bitcoin-aiming-for-price-recovery-amid-mounting-selloffs/">Bitcoin</a>, has shown a slight upward movement in its price activity in the past day.&nbsp; 
Highlighted Crypto News Today:&nbsp; 
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Shiba Inu (SHIB) Price Shows Recovery Signs Amid Crypto Crash

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