Shiba Inu

Shiba Inu has been showing positive momentum in recent trading sessions, with a gain of 2.06% in the last 24 hours. The current price of $0.0000087600 represents a significant level for traders and investors.

Key Insights:

• Shiba Inu is trading within its established 24h range between $0.0000085200 and $0.0000088400.
• Trading volume of $110.5M is supporting the upward price movement, indicating moderate market participation.
• Market capitalization stands at $5.2B, establishing it as a major altcoin.
• Circulating supply of 589,244,432,876,104.5 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 $0.0000088400, with breakout potential. Support appears established around $0.0000085200. Trading volume (2.1% of market cap) is moderate. The RSI indicator is currently neutral (30.7). MACD histogram is neutral (near zero). Price is currently below the 50-day SMA ($0.000011029). The longer-term 200-day SMA is at $0.000012421. 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.