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Technical Diagnosis: SHIB Climbs 50% Greater, as Meme Coin Hits $16 Billion Market Cap

Shiba inu (SHIB) is up over 50% as of writing, with cryptocurrency markets continuing to assemble momentum to originate up the week. The so-called ‘meme coin’ rally has seen SHIB recapture a $16 billion market capitalization. Biggest gainers On Monday, bitcoin (BTC) and ethereum (ETH) both reached multi-week highs, with DOGE and XRP also trading…

Technical Diagnosis: SHIB Climbs 50% Greater, as Meme Coin Hits $16 Billion Market Cap

Technical Analysis: SHIB Climbs 50% Higher, as Meme Coin Hits $16 Billion Market Cap

Shiba inu (SHIB) is up over 50% as of writing, with cryptocurrency markets continuing to assemble momentum to originate up the week. The so-called ‘meme coin’ rally has seen SHIB recapture a $16 billion market capitalization.

Biggest gainers

On Monday, bitcoin (BTC) and ethereum (ETH) both reached multi-week highs, with DOGE and XRP also trading over 10% increased, nonetheless, none of these came halt to at the present time’s fleshy gainer.

Shiba inu (SHIB) used to be at the present time’s bull of the day, and used to be up by 48% as of writing, hitting an intraday high of $0.00003484 within the technique.

Within the final 24-hours, shiba Inu has risen by over 70%, following its breakout of resistance at $0.00002332.

On the present time’s switch has ended in the 14-day RSI climbing by its most since October 29, when $SHIB traded at a now ATH of $0.00008894.

Technical Analysis: SHIB Climbs 50% Higher, as Meme Coin Hits $16 Billion Market Cap
SHIB/USD – Daily Chart

As seen from the chart, prices now alternate marginally over resistance of $0.00003374, which has been in tag for everything of 2022 thus a ways.

Impress currently tracks above the overbought threshold, nonetheless, many slack entrants are certain to quiet enter the scurry.

Biggest losers

Following nearly 5-days of bullish stress, crypto bears have a dinky been in hiding, and that persevered on Monday.

On the present time’s largest loser used to be LEO, which as of writing, is down around 2.60%, and springs as traders seem like caching out on final weeks’ profits.

UNUS SED LEO has received by as unparalleled as 40% in price over the final 7-days, and with its 14-day RSI monitoring at 69.44, markets appear to have deemed this as being overbought.

Technical Analysis: SHIB Climbs 50% Higher, as Meme Coin Hits $16 Billion Market Cap
LEO/USD – Daily Chart

Following its rally to a now all-time high of $5.44, LEO began to consolidate, and now looks to have chanced on a non everlasting ceiling at $5.22.

Will the profit takers continue to liquidate their positions? Enable us to know your tips within the comments.

eliman@bitcoin.com'

Eliman Dambell

Eliman brings a completely different level of look to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Shares and FX.

Image Credit: Shutterstock, Pixabay, Wiki Commons

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