Shiba Inu Falls More Than 11% In 24 hours
Portfolio Pulse from Benzinga Insights
Shiba Inu (CRYPTO: SHIB) has seen a significant decline, dropping 11.35% in the last 24 hours to $0.0000094, continuing a weekly downward trend with a 14.0% loss. The volatility of SHIB is highlighted by the widening of Bollinger Bands on its price charts. Trading volume surged by 145.0% over the past week, while the circulating supply increased by 1.53%, reaching 589.29 trillion. SHIB's market cap is currently ranked #19, valued at $5.58 billion.
January 03, 2024 | 7:02 pm
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Shiba Inu (SHIB) has experienced a significant price drop of 11.35% in 24 hours and a 14% decrease over the past week, with a surge in trading volume and a slight increase in circulating supply.
The substantial drop in SHIB's price over the past 24 hours and week indicates a bearish trend that could continue in the short term. The increase in trading volume suggests heightened investor activity, which could either signal a potential rebound or further declines depending on market sentiment. The slight increase in circulating supply may have a dilutive effect on the price. Given the current trend and market volatility, the short-term impact is likely negative.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100