Shiba Inu

Shiba Inu has been showing positive momentum in recent trading sessions, with a gain of 1.50% in the last 24 hours. The current price of $0.000012030 represents a significant level for traders and investors.

Key Insights:

• Shiba Inu is approaching its 24h resistance level of $0.000012030, a breakout could signal further upside.
• Trading volume of $131.3M is supporting the upward price movement, indicating moderate market participation.
• Market capitalization stands at $7.1B, establishing it as a major altcoin.
• Circulating supply of 589,247,050,471,536.9 SHIB with no defined maximum supply.

Market Outlook:

The short-term outlook for Shiba Inu appears bearish based on SMA analysis. A short-term bounce might be underway, but the overall trend remains challenged. The asset is testing its 24-hour high near $0.000012030, with breakout potential. Support appears established around $0.000011750. Trading volume is relatively light (1.9% of market cap), potentially leading to higher volatility. The RSI indicator is currently neutral (51.8). MACD histogram is neutral (near zero). Price is currently below the 50-day SMA ($0.000012455). The longer-term 200-day SMA is at $0.000015051. Potential catalysts include project milestones, partnership announcements, and overall market sentiment shifts. As always, proper risk management is advised given the inherent volatility of crypto markets.