Shiba Inu (SHIB) has seen a remarkable bounce back recently, showing a 2% increase in the last 24 hours and trading at $0.0000194. However, traders remain wary of a potential price decline. Despite hitting a one-month peak of $0.00002 on July 16, SHIB encountered a correction to $0.0000187. With a market cap of $11.4 billion, it ranks as the 12th largest cryptocurrency and the second largest meme coin.<\/p>\n
An analysis of the data reveals some cautionary signals. Daily trading volume has shrunk by 27% in the last 24 hours, currently standing at $500 million. Moreover, there has been a 121% surge in whale activity, characterized by unique transactions per day involving at least $100,000 worth of SHIB. This uptick hints at potential price manipulation and heightened price volatility driven by significant whale movements.<\/p>\n
The total open interest in SHIB has decreased from $59.6 million to $57.1 million, with funding rates dropping below zero, signaling a prevalence of short-position holders anticipating a price drop. A mere 5% upward shift could lead to liquidations totaling $2.5 million.<\/p>\n
With the Relative Strength Index (RSI) at 61, SHIB is currently slightly overbought. A dip to 50 or lower could place SHIB back in the bullish territory. Traders are advised to proceed with caution as the data indicates potential price volatility and manipulation.<\/p>\n
Despite the solid recovery of SHIB, the existing data points towards potential risks. Traders must remain vigilant against price manipulation and high volatility driven by significant whale activity. A decrease in RSI could bring SHIB back to a more positive zone, but at present, traders have to contend with obstacles preventing the meme coin’s surge.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu (SHIB) has seen a remarkable bounce back recently, showing a 2% increase in the last 24 hours and trading at $0.0000194. However, traders remain wary of a potential price decline. Despite hitting a one-month peak of $0.00002 on July 16, SHIB encountered a correction to $0.0000187. With a market cap of $11.4 billion, […]<\/p>\n","protected":false},"author":10,"featured_media":15819,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Shiba Inu Faces Resistance Despite Rally - Bitrabo","description":"Shiba Inu (SHIB) has seen a remarkable bounce back recently, showing a 2% increase in the last 24 hours and trading at $0.0000194. However, traders remain wary"},"footnotes":""},"categories":[316],"tags":[3358],"class_list":["post-15820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-shiba-inu"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=15820"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/15819"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=15820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=15820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=15820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}