• The RSI indicator for SHIB went to oversold levels, signaling buying opportunities.
• SHIB is down 31 in the last 30 days, but has doubled since June 2023.
• Over 410 trillion SHIB tokens have been burned to date.

Shiba Inu (SHIB), the popular meme coin often considered a rival to Dogecoin, has suffered a significant price drop and increased trading volume in the past 24 hours, raising questions about its future trajectory. 

It has fallen 5.79% in the past 24 hours, accompanied by a 47.77% increase in trading volume, now reaching $202 million.

According to CoinMarketCap, Shiba Inu’s market capitalization has also dropped by almost 6%, valuing the digital asset at $10 billion and ranking it as the 12th largest cryptocurrency. Meanwhile, Dogecoin (DOGE) also declined 4.31% in the past 24 hours, currently trading at $0.1192.

The SHIB token is 80.76% below its all-time high of $0.00008845, reached three years ago. Additionally, the cryptocurrency has declined 16.15% in the past seven days and 31.04% in the last 30 days. However, SHIB’s price has risen 113.34% since June 2023, outperforming DOGE’s 74.84% increase.

Data from TradingView shows that the cryptocu…

The post Shiba Inu Price Nosedives, Key Indicator Say This appeared first on Coin Edition.

• The RSI indicator for SHIB went to oversold levels, signaling buying opportunities.
• SHIB is down 31 in the last 30 days, but has doubled since June 2023.
• Over 410 trillion SHIB tokens have been burned to date.

Shiba Inu (SHIB), the popular meme coin often considered a rival to Dogecoin, has suffered a significant price drop and increased trading volume in the past 24 hours, raising questions about its future trajectory. 

It has fallen 5.79% in the past 24 hours, accompanied by a 47.77% increase in trading volume, now reaching $202 million.

According to CoinMarketCap, Shiba Inu’s market capitalization has also dropped by almost 6%, valuing the digital asset at $10 billion and ranking it as the 12th largest cryptocurrency. Meanwhile, Dogecoin (DOGE) also declined 4.31% in the past 24 hours, currently trading at $0.1192.

The SHIB token is 80.76% below its all-time high of $0.00008845, reached three years ago. Additionally, the cryptocurrency has declined 16.15% in the past seven days and 31.04% in the last 30 days. However, SHIB’s price has risen 113.34% since June 2023, outperforming DOGE’s 74.84% increase.

Data from TradingView shows that the cryptocu…

The post Shiba Inu Price Nosedives, Key Indicator Say This appeared first on Coin Edition.