SHIB Keeps RSI and MACD Uptrend Position, Is Shib Going to Pump?

SHIB Keeps RSI and MACD Uptrend Position, Is Price Surge Nearing?
  • SHIB announced a new Visa card 
  • Shiba Inu maintains an uptrend position in the 1-day chart
  • The token might hit the price of $0.000016 if all goes well

Shiba Inu (SHIB) never fails to surprise investors with its technology upgrade. For example, SHIB announced a new Visa card that will be used in payment to help burn SHIB tokens. This benefits investors since a scarce crypto asset is preferred over an unlimited supply of digital assets. In short, the lesser the token supply, the bigger the chance that the crypto price might surge. However, this is not always the case, SHIB price surge still relies on many factors.  

On the other side, SHIB maintains the top position in the cryptocurrency market regarding market capitalization. 

Source: TradingView

Based on the 1-day chart displayed above, both the RSI and MACD of SHIB maintain their uptrend position. In detail, the RSI of SHIB keeps its position within the 70-30 range. This means the cryptocurrency is neither overbought nor oversold, an uptrend position.

Meanwhile, the SHIB MACD continues to move above the zero level. Through this, it is safe to say that SHIB may still have the chance to boost its trading position. Conversely, if SHIB falls below the zero line, it will be a different story. In this case, traders and investors must act wisely to avoid a major price plunge.

To sum it all up, if SHIB maintains its bullish position in the RSI and MACD indicators, there is a chance of a price jump. It may break its resistance level and reach the price of $0.000016. 

In other news,  Kraken has trumped Binance for the crown of favorite crypto exchange. Indeed, it seems Kraken is the most popular cryptocurrency exchange in the hearts and minds of many crypto enthusiasts.

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.

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.