Shiba Inu Spikes Sharply On Rising Volume: What's Going On
Portfolio Pulse from Shanthi Rexaline
Shiba Inu (CRYPTO: SHIB) saw a sharp spike early Saturday amid an increase in volume, staging an uneven recovery from its mid-June lows. The rally was accompanied by a spurt in volume, which is up roughly 35% over the past 24 hours. Shiba Inu and its sister tokens Bone ShibaSwap (CRYPTO: BONE) and Doge Killer (CRYPTO: LEASH) have not found much traction after the launch of Shibarium, an Ethereum layer 2 blockchain.
September 23, 2023 | 5:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Shiba Inu (CRYPTO: SHIB) saw a sharp spike amid an increase in volume, indicating a potential short-term bullish trend.
The sharp spike in Shiba Inu's price, accompanied by a significant increase in volume, suggests a strong buying interest. This could potentially lead to a short-term bullish trend for the cryptocurrency.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Bone ShibaSwap (CRYPTO: BONE) has not found much traction after the launch of Shibarium, indicating a potential short-term bearish trend.
The lack of traction for Bone ShibaSwap following the launch of Shibarium suggests a lack of investor interest. This could potentially lead to a short-term bearish trend for the cryptocurrency.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 75