Bullish Pressure Captures SHIB Market After a Strong Buying Spree By CoinEdition

War for Semiconductor Supremacy Rages On: Which Company Will Come Out on Top?

Bullish Pressure Captures SHIB Market After a Strong Buying Spree

Published Feb 24, 2023 12:20PM ET Updated Feb 24, 2023 12:30PM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

Bullish Pressure Captures SHIB Market After a Strong Buying Spree

SHIB/USD

-0.58%

Add to/Remove from Watchlist

The Shiba Inu token shows a positive market trend after a massive buying-off.

Bulls gain control as the SHIB market faces rejection at the $0.00001331 level.

The Shiba Inu price analysis shows a bullish trend at the $0.00001317 mark.

According to the most recent Shiba Inu price analysis, the SHIB market has been subject to a large buying-off. This resulted in the bulls taking control of the market and pushing the SHIB up to $0.00001317, with an increase of over +1% in the last 24 hours. Moreover, the buying pressure is expected to continue pushing the SHIB token even higher in the coming days.

However, despite this bullish trend in the market, the SHIB token still faces resistance at the $0.00001331 level, which is the next key level for the SHIB if bull pressure is to be maintained.

The support level for the SHIB token is at $0.00001301, and if it fails to hold, this could spell trouble for the bulls.

The past few hours had observed a continuous bearish streak in the SHIB market, but the buying spree has reversed that trend and brought bullish pressure back into the market. This is a strong indication of Shiba Inu’s potential to grow in value as investors continue to make their mark on the SHIB market.

SHIB 24-hour price action: Coinmarketcap

The trading volume is also relatively high at $222,122,749, which may result in a further bullish trend. At the same time, the market capitalization of Shiba Inu has also increased to $7.22 billion, which suggests that the buyers are still strong in the market.

Looking at the technical indicators, the Moving Average Convergence Divergence (MACD) indicator is in the positive zone. The MACD line is trading above the signal line on the daily chart. The histogram further confirms the bullish sentiment in the market as the bar is currently in the green color, which indicates an increase in buying pressure.

SHIB/USD daily chart: TradingView

The Relative Strength Index (RSI) is also bullish as it trades above the 50-level at $53.28 on the daily chart. This suggests that there is still some buying pressure left in the market, and if this trend continues, then we could see further gains for Shiba Inu. The moving average is also bullish as the 50-day, and the 200-day are both trending above the current price. This suggests that the market is still in a strong uptrend.

Overall, Shiba Inu is still on an uptrend and will likely remain so for the coming days. Bulls have taken control of the SHIB token with a massive buying-off, and this trend may continue if resistance levels are broken. The resistance levels are set at around $0.00001331, and the support levels are placed at $0.00001301, either of which could be broken shortly.

The post Bullish Pressure Captures SHIB Market After a Strong Buying Spree appeared first on Coin Edition.

See original on CoinEdition

Add a Comment

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.
Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

Comments (1)

Bassam Bachir Feb 25, 2023 5:52AM ET

Follow this post

Unfollow this post

Save

Saved. See Saved Items.

This comment has already been saved in your Saved Items

Block User

shiba in SCAM

0 1

Report

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="208332383">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="208332383" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow js-option blockUser js-block-option" data-comment-id="{commentID}"  data-user-id="208332383" data-reg_ep="block user comments">
			<a href="javascript:void(0);">
				<span class="blockIcon middle"></span>Block User			</a>
		</div>
				<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="208332383">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

US 30	33,670.9	+609.3	+1.84%
US 500	4,274.8	+53.8	+1.27%
Dow Jones	33,660.52	+598.95	+1.81%
S&P 500	4,275.07	+54.05	+1.28%
Nasdaq	13,215.06	+114.07	+0.87%
S&P 500 VIX	14.70	-0.95	-6.07%
Dollar Index	103.925	+0.423	+0.41%

Crude Oil WTI	71.82	+1.72	+2.45%
Brent Oil	76.11	+1.83	+2.46%
Natural Gas	2.196	+0.038	+1.76%
Gold	1,972.70	-22.80	-1.14%
Silver	23.738	-0.249	-1.04%
Copper	3.7192	+0.0082	+0.22%
US Soybeans	1,351.00	+22.00	+1.66%

U.S. 10Y	3.683	+0.082	+2.30%
U.S. 30Y	3.877	+0.053	+1.43%
U.S. 5Y	3.819	+0.118	+3.20%
U.S. 3M	5.427	+0.042	+0.78%
US 10Y T-Note	114.06	-0.67	-0.59%
Euro Bund	135.59	-0.74	-0.54%
10-2 Yield Spread	-76.44	+0.00	+0.00%

Apple	180.53	+0.44	+0.24%
Alphabet A	124.73	+1.01	+0.82%
Tesla	215.30	+7.78	+3.75%
Amazon.com	124.53	+1.76	+1.44%
Netflix	403.51	+0.38	+0.10%
Meta Platforms	273.04	+0.43	+0.16%
Bank of America	28.84	+1.05	+3.80%

Bullish Pressure Captures SHIB Market After a Strong Buying Spree

Related Articles