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Shiba Inu (SHIB) Showing 4th Growth Day in Row: Reversal Incoming?

Fri, 09/15/2023 - 09:50
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Arman Shirinyan
Shiba Inu shows dynamic that might hint at upcoming surge
Shiba Inu (SHIB) Showing 4th Growth Day in Row: Reversal Incoming?
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Shiba Inu (SHIB) is riding a wave of optimism, marking its fourth consecutive day of growth. Despite the market's eerie calm, this uptick in SHIB's price could be a harbinger of a more significant surge. As of the latest data, SHIB is trading at approximately $0.00000741. But what's fueling this momentum, and could it be a sign of a broader market reversal?

The crypto market has been unusually quiet lately, with volatility hitting rock-bottom levels. In such a landscape, Shiba Inu's steady climb stands out — it is hard to ignore and potentially indicative of a louder conversation that is about to start. The lack of market volatility often serves as a precursor to a more substantial move, and SHIB might just be the canary in the coal mine.

shiba inu
Source: TradingView

However, it is not all sunshine and rainbows. One dampening factor is the trading volume for Shiba Inu, which remains on the low side. Low trading volume can be a double-edged sword. On one hand, it means that the current uptrend has not yet gained full market endorsement. On the other, it leaves room for a sudden influx of trading activity to significantly move the needle.

Top Shiba Inu (SHIB) Trading Venue Huobi Rebrands to HTX

Is a reversal for Shiba Inu just a matter of time? While the current growth streak is promising, the low trading volume adds a layer of uncertainty. The market is holding its breath, and whether it exhales in relief or disappointment could hinge on factors beyond SHIB itself.

Shiba Inu is showing signs of life in a mostly stagnant market. Its four-day growth trend is a glimmer of hope, but the low trading volume keeps that hope on a leash. As the market teeters on the edge of a potential surge, all eyes are on assets like SHIB to see if they will lead the charge or fizzle out.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.