Shiba Inu the price falls by 33% compared to the maximum of December, but the signals of potential rebound appear
Shiba Inu (Shiba), the second largest coin of memes, increased to 0.00002215 US dollars, which is 12% more than at the lowest swing this week. It lagged behind other popular coins of memes, such as Fartcoin, AI16Z and Dogwifhat.
The probable reason for reducing the width is that Shibarium, its Layer-2 network, does not work. While the number of transactions is approaching 800 million milestones, the total amount of training camps continued to decline. On Tuesday, the network raised 640 bones assembly, worth less than 300 US dollars.
SHIBARIUM performance has influenced the Shiba IU, because part of the collection for the transaction is used to burn Shib tokens. According to Shibburn, the burning rate has remained under pressure in recent weeks.
In fact, the coin can put a strong return, since cryptocurrencies are rallying. Bitcoin (BTC) approaches a key point of resistance of $ 100,000 after encouraging consumer inflation data. It can also significantly ahead of the inauguration of Donald Trump and the beginning of the ATKINS Paul era in the securities and exchanges commission.
Analysis of prices for chiba inu coins
A daily diagram shows that the price of a Shiba formed a hammer or a candle of the morning star when cryptocurrencies dived on Monday. This drawing with a long lower shadow and a small body is often considered as a sign of turn.
Shiba Inu also formed the fall of the wedge graph, consisting of two falling and converging trend lines. This template, as a rule, is considered a bull signal of circulation, while breakthroughs often occur with converging lines.
Shib also formed a bull divergence, since the relative force index formed the ascending channel. Thus, the coin can bounce back and reach last year’s maximum of $ 0.000033, which is about 50% higher than the current level. The fall below the key support at the level of $ 0.00001853, its lowest level in December, will be invalid the views of the bull.
