'Dogecoin Killer' Shiba Inu Spikes 5%: Trader Sees 'SHIB Season' And This Data Point Could Mean He's Right
Portfolio Pulse from Ivan Crnogatić
Shiba Inu (SHIB) spiked 5% in early Wednesday trading, continuing a 30-day increase of 17%. This rise follows a trader cashing out over $1 million and predictions from crypto traders that SHIB will continue to perform well. SHIB's 24-hour trading volume exceeds Dogecoin's, indicating increased interest.
May 29, 2024 | 2:42 pm
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POSITIVE IMPACT
Shiba Inu (SHIB) spiked 5% and has seen a 17% increase over the past 30 days. Increased trading volume and positive trader sentiment suggest continued short-term growth.
The 5% spike in SHIB, combined with a 17% increase over the past 30 days and higher trading volumes, indicates strong short-term growth potential, supported by positive trader sentiment.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin (DOGE) saw a 0.7% decline over the past 24 hours, while Shiba Inu (SHIB) spiked 5%. Increased trading volume in SHIB suggests a shift in interest towards the 'Dogecoin Killer'.
The decline in DOGE's price and the increased trading volume in SHIB suggest a potential shift in investor interest from DOGE to SHIB, which could negatively impact DOGE in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80