• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Shiba Inu
Sensei Inu Logo

Shiba Inu Breaks Through Crucial Resistance Point With 10% Climb

Christian Encila by Christian Encila
3 months ago
in Cryptocurrency Market News
Reading Time: 3 mins read

Shiba Inu (SHIB) has recently experienced a significant breakthrough in its price movement. With a 10% rally, SHIB managed to surpass a crucial resistance point that had been hindering its upward momentum. This achievement has sparked excitement among SHIB investors and the wider cryptocurrency community.

After a period of consolidation, Shiba Inu broke through the resistance threshold at $0.000007, marking a crucial milestone for the cryptocurrency. This resistance level had been a major barrier for SHIB’s upward movement in recent weeks. However, with its recent 10% rally, Shiba Inu demonstrated its ability to overcome obstacles and regain bullish momentum.

SHIB’s Positive Price Performance

Shiba Inu’s rally can be attributed to its positive price performance over the past 24 hours and the last seven days. According to CoinMarketCap, SHIB’s price currently stands at $0.00000735. Within the last 24 hours, SHIB witnessed a notable 2.78% increase, contributing to its overall upward trend.

Related Reading: PEPE Jumps Nearly 10% In 24 Hours, Sparking Speculation Of A New Rally

At the time of writing, SHIB data showed that the coin experienced an impressive climb of 10% in the last week, indicating sustained positive sentiment and growing interest among investors. The chart below shows the meme coin maintaining its foothold in the green zone in the last 24 hours.

SHIB price movement in the last 24-hours. Source: CoinMarketCap

The breakthrough of the resistance point holds several implications for Shiba Inu investors. Firstly, it instills confidence in the market, suggesting that SHIB has the potential to continue its upward trajectory. Breaking through this resistance level may attract more buyers and investors who were previously hesitant due to the barrier it presented.

The rally signifies increased trading activity and liquidity for SHIB. As more investors enter the market, the trading volume for Shiba Inu is likely to surge, leading to improved market depth and reduced volatility. This can be beneficial for both short-term traders looking for price fluctuations and long-term holders seeking stability.

SHIB market cap currently at $4.4 billion. Chart: TradingView.com

Moreover, the successful breach of the resistance level could be seen as a bullish signal by technical analysts. It may attract attention from traders who utilize technical analysis methods to identify trends and patterns in the market. This increased attention can further contribute to SHIB’s positive price performance and potentially propel it towards new price highs.

Related Reading: ApeCoin Q2 Slump Continues: Is There A Silver Lining Ahead?

Meanwhile, Shiba Inu took the No. 1 spot in the wake of its solid price surge based on crypto social and market activity. According to 1-day data on June 18, SHIB’s social volume jumped to 13,100 and the total number of social engagements reached 193,858,991.

Shiba Inu performing strong in the social and market activity department. Source: LunarCrush

Looking Ahead

As Shiba Inu continues to break through crucial resistance points and demonstrate its ability to rally, the future looks promising for the meme-inspired cryptocurrency. 

This achievement has sparked optimism among SHIB investors and the wider cryptocurrency community, attracting more attention to the meme-inspired coin.

With sustained positive price performance and increased trading activity, Shiba Inu continues to make its mark in the crypto space, captivating the imagination of investors and enthusiasts alike.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from iStock

Tags: btcusdethusdmeme coinsPrice actionSHIB priceShiba Inu
Tweet123Share196ShareSend
Christian Encila

Christian Encila

Christian is a former journalist and editor, as well as a layout design consultant, who previously held leadership positions at Sun.Star News Philippines and Ang Peryodiko News, a local daily in Manitoba, Canada. Alongside his passion for writing, he is an avid fan of cryptocurrency and works tirelessly throughout the week. When he's not on his computer, you can find him tinkering with his old motorbike as a grease monkey, or lounging on the patio hammock while pondering about artificial intelligence and whether he'll ever understand his cat's thoughts and calmness.

Related Posts

FTX

FTX Exploiter Executes Ongoing Funds Exodus, Moves $17 Million In ETH In One Day

10 hours ago
Bitcoin

Crypto Analyst Tips Bitcoin (BTC) To Reach $40,000 In Q4 2023

12 hours ago
Ripple

XRP Price Threatened As Ripple Unlocks 1 Billion Coins

14 hours ago
Bitcoin Cash

Bitcoin Cash Bulls Charge: 13% Price Rally Driven By Fresh Demand

19 hours ago
Ether Futures

FTX Exploiter Transfers 5,000 ETH Ahead Of Ether Futures ETF Launch

1 day ago
Ethereum ETF

Ethereum ETF: Valkyrie Halts Purchase Of ETH Futures Contracts

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Investing in Trading 212: Is the Risk Worth the Reward?

    2 days ago
  • Bitcoin Spark: Cross-Chain with Polygon, BSC, and Cosmos

    3 days ago
  • Explosive Surge: Curve DAO and Everlodge on a Wild Pumping...

    3 days ago
  • The DeFi Big Three: Solana (SOL), Chainlink (LINK), and...

    3 days ago
  • Plus 500 Reviews Get Moderate Risk Rating From Trading...

    3 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.