Shiba Inu price analysis: SHIB falls 8 percent but bullish run may not be over yet

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Shiba Inu price analysis: SHIB falls 8 percent but bullish run may not be over yet
Razi Khan by Razi Khan Oct 28, 2021 at 09:26 pm Reading Time: 3 mins read
Shiba Inu price analysis

TL;DR Breakdown

Shiba Inu price lowered another 8 percent on the day’s trade
Sellers taking out profits after SHIB soared to an all-time high of $0.0000845 yesterday
According to technical indicators the bullish run may not be over just yet
Shiba Inu price analysis for the day shows that the token is undergoing a free fall after surging to its all-time high yesterday. Price dropped more than 8 percent on the day to sit at $0.00006815 at the time of writing, with trading volume topping 32 percent. The sudden decline indicates sellers making profits from the token as price continues to decline. However, according to technical indicators and intra-day trade candlesticks, it can be inferred that the bullish run may not be over just yet. Over the last 24 hours, price shipped as low as $0.00005741, only to be rescued above the crucial moving averages at of $0.00006787.

The larger cryptocurrency market showed recoveries over the last 24 hours, contrary to Shiba Inu. Bitcoin stayed in close contact with the $60,000 mark with a slight jump, along with Ethereum’s push past $4,000 with a 4 percent increase. Cardano and Ripple upped by 1 percent each, with Solana and Polkadot rising with the same trend. The biggest jump was made by Dogecoin over the last 24 hours as price rose up to $0.303 with a 25 percent increase.