SHIB Price Analysis: Bears Are Driven Back by a 12+% Price Surge in SHIB Market By Coin Edition

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SHIB Price Analysis: Bears Are Driven Back by a 12+% Price Surge in SHIB Market

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SHIB Price Analysis: Bears Are Driven Back by a 12+% Price Surge in SHIB Market

With the recent upswing, SHIB has reached a new 90-day high price of $0.00001457.

Current research forecast a sustained upswing for the foreseeable future.

The up-trending SHIB market finds support around $0.00001232.

After a period of indecision during which bears and bulls wrestled for control, Shiba Inu (SHIB) bulls have just captured the market. As a consequence of the gains made by the bulls, the price of SHIB climbed to a new 90-day high of $0.00001457 during the trading session. At the time of writing, the price has risen 12.13% to $0.00001381, a result of the bullish dominance.

SHIB’s bull run is supported by a rise in market capitalization and 24-hour trading volume of 11.16 % to $7.585,874,251 and 89.82 % to $1.085,241,973, respectively. This spike in SHIB’s market value and 24-hour trading volume indicates that buyers are confident in the stock’s upward trajectory and are prepared to back it up.

SHIB/USD 24-hour price chart (source: CoinMarketCap)

Since the SMI Ergodic Indicator (SMII) has remained above its signal line at 0.5278, indicating that bullish momentum is still strong, the price of SHIB might continue rising.

The market is prese…

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