- SHIB records a +24.5% in the past 30 days
- Shiba Inu may reach $0.00002 sooner than expected
- Ethereum price surges amid bearish market
Despite the carnage that the cryptocurrency market is experiencing, SHIB maintains its uptrend position against the bears. Specifically, SHIB records a +24.5% in the past 30 days, overtaking the famous Cardano in terms of growth rate. The continued adoption of crypto whales is a factor to consider in the ongoing price of SHIB. According to watcher guru, there are wallets that hold almost 5% of the total circulation of Shiba Inu.
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Source: TradingView
As seen in the chart above, SHIB RSI and MACD maintain their uptrend position. In other words, traders and investors holding SHIB tokens can trade the crypto without the fear of any major price breakout.
In addition, the MACD of SHIB moves above the “0” level and keeps its position above the signal indicator. If this continues, there is a big chance that SHIB may be able to increase its price position even more in the days to come.
CNL analysts forecasted that if SHIB could sustain this uptrend phase, there is a possibility that SHIB’s price would explode in no time to reach $0.00002.
In other news, Ethereum (ETH) is now showing extremely bullish signals, suggesting that the bottom may have indeed been in for the second-largest cryptocurrency by market capitalization. From a low of $1,650 on August 10, ETH’s current price is now at $1,897.74, according to CoinGecko.
Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether expressed or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers perform their own in-depth research before investing in cryptocurrency.
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