Shiba Inu pricing data indicates that there has been a strong trend in the price of digital money, which has increased by 1.05%. The sharp rise in market capitalization and trading activity visible on the daily price chart has been blamed for the price increase. Trading volume climbed by 32.20 percent to $123,038,332 and the market capitalization increased by 0.94% to $5,510,199,475. At the time of writing, Shib had a market rank of 15 according to CoinMarketCap data.
Given that all the technical indicators on the 24-hour price chart are heading north, it is likely that the positive momentum seen on the Shiba Inu price chart will continue.
The Bollinger Bands are advancing linearly, with the upper band touching 0.00001015 and the lower band touching 0.00000983, according to the 4-hour price charts. This suggests that the market is steady, suggesting that the bullish run may continue. The market is pointing to the north and moving towards the Bollinger upper band also supporting this momentum.
The Relative Strength Index (RSI) has consistently indicated that the pressure from buyers and sellers is equal. The RSI index reaches 49.80. Positive momentum is indicated by the Moving Average Convergence Divergence (MACD) moving above the signal line, which is evident on SHIB price charts. The Histogram is in the positive region with a reading of 0.00000001.
The 5-day Moving Average crosses above the 20-day Moving Average, showing a bullish crossing, with the 5-day MA touching 0.00001004 and the 20-day MA touching 0.00000999. A positive trend is in motion when the short-term MA passes above the long-term MA.
Overall, in order to preserve the current bullish trend shown in the SHIB market, the bulls must keep fighting and keep outnumbering the bears.