SHIB is the best performer amongst the top 20 cryptocurrencies by market cap on Monday.
It is up by more than 2% today and could rally higher soon.
The broader crypto market continues to slowly recovers from last week’s poor performance.
SHIB, the native token of the Shiba Inu ecosystem, is the best performer amongst the top 20 cryptocurrencies by market cap on Monday. It is currently outperforming Bitcoin and the other major cryptocurrencies.
There is no catalyst behind this latest cryptocurrency news. At press time, the price of Shiba Inu stands at $0.00000871. The positive performance comes as the broader crypto market begins its recovery from last week’s poor performance.
The total cryptocurrency market cap remains above $800 billion and could reach the $815 billion level if the positive momentum is maintained. Bitcoin and Ether, the two leading cryptocurrencies by market cap, are also trading in the positive zone and could reach the $17k and $1,250 resistance levels soon if the bulls remain in charge.
The SHIB/USD 4-hour chart remains bearish despite Shiba Inu performing well. However, the chart could turn bullish soon as SHIB has been outperforming the broader cryptocurrency market.
SHIB/USD Chart By TradingView

The MACD line is below the neutral zone but is set to cross into the positive area soon as SHIB continues to perform well. The 14-day relative strength index of 55 shows that SHIB could be heading toward the overbought region in the near term if the bulls can maintain their momentum. 
With the bulls in charge now, SHIB could break past the first major resistance level at $0.00000996 before the end of the day. However, it would need the support of the broader crypto market if it intends to break past the $0.00001091 resistance level in the near term.

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Buy SHIB with eToro today
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Buy SHIB with OKX today
Keep updated with our round the clock and in-depth cryptocurrency news
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.
Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.
CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.
When trading in stocks your capital is at risk.
Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.


Write A Comment