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<div class="cryptonews"> 
 <p class="is-style-lead">The <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of Shiba Inu has made a recovery days after it hit a near-term low.</p> 
 <p>Shiba Inu (SHIB), the meme coin with the second-largest market capitalization, has shrugged off the <a rel="dofollow" title="bearish" href="https://thebittimes.com/tag/bearish.html">bearish</a> grip that had held it in the last few days, culminating in a near-term low of $0.000007195 on Sept. 21.</p> 
 <p>At the time of writing, SHIB had witnessed robust buying activity, with data from CoinMarketCap indicating a figure of $123,205,529. It was a near-80% improvement from the previous 24 hours and played a significant role in pushing up the SHIB <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> by at least 3.6% to $0.00000757.</p> 
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   <img decoding="async" width="1024" height="1024" src="https://cdn.thebittimes.com/images/2023/09/24/08158b672ec9d3e5daea2e77b6f42eff.webp" alt="Shiba Inu price goes green after bearish consolidation - 1"> 
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   Shiba Inu <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> chart | Source: CoinGecko
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 <p>According to analysts, this current <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> is head and shoulders above SHIB’s exponential moving average (EMA) 100 trend line, which signifies it is breaking out of the previous <a rel="dofollow" title="bearish" href="https://thebittimes.com/tag/bearish.html">bearish</a> pattern.</p> 
 <div class="cn-block-related-link"> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Shiba Inu rebounds after Shibarium fix; this project threatens its limelight 
 </div> 
 <p>According to blockchain tracker and analytics platform Whale Alert, Shiba Inu’s improved trading volumes were primarily achieved on the back of significant whale activity.</p> 
 <p>On Sept. 22, Whale Alert signaled that nearly 4.6 trillion SHIB tokens valued at approximately $33.38 million were moved from a wallet belonging to Amsterdam-based crypto exchange Bitvavo to an unknown wallet.&nbsp;</p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr"> 4,595,530,677,374 #SHIB (33,377,339 USD) transferred from #Bitvavo to unknown wallethttps://t.co/THVHI1QCE7</p>— Whale Alert (@whale_alert) September 22, 2023
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 <p>Further, data from Coinglass indicates a notable increase in short liquidation of SHIB, with as much as $110,000 worth of positions liquidated on Sept. 23.</p> 
 <p>Despite the excitement surrounding Shiba Inu’s layer-2 network Shibarium, the meme coin has been increasingly bearish. Its volatility rate has remained steady at 33.5%, suggesting additional price swings may not be in the offing, which could be good news for sellers.</p> 
 <p>The meme coin market has had a mixed few days, with tokens like HarryPotterObamaSonicInu (BITCOIN) and Bad Idea AI (BAD) gaining 5.9% and 9.5%, respectively on their previous <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s, while more established coins such as Pepe (PEPE) and Floki (FLOKI), and Baby Doge Coin (BABYDOGE) losing anywhere between 1.2% and 5.2% of their values.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Former Binance VP sees dapps, meme coins as next crypto catalysts 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/shiba-inu-price-goes-green-after-bearish-consolidation-tbt63842.html">https://thebittimes.com/shiba-inu-price-goes-green-after-bearish-consolidation-tbt63842.html</a></p>

Shiba Inu price goes green after bearish consolidation

TheBitTimes

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