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While the broader crypto market fell in the early Sunday session, with over $182 million in liquidation according to CoinGlass data, Shiba Inu (SHIB) managed to stay in the green.
While the gains were minute, Shiba Inu's performance stood out, particularly during a session where most crypto assets traded in the red.
At the time of writing, SHIB was up 1.12% to $0.0000143, having earlier reached intraday highs of $0.0000147.
The surprise move comes as major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) continued their losses in the early Sunday session.
The crypto market saw profit-taking over the weekend after a rally in the past week, with major coins seeing a significant drop. Bitcoin's price fell after reaching a new all-time high of nearly $112,000.
What's next for Shiba Inu price?
Market sentiment remains cautious, especially with macro uncertainty and technical signals suggesting a short-term price drop.
Shiba Inu price is facing a battle between the bulls and bears. The daily RSI exactly at the 50 midpoint lends credence to this, indicating hesitation among buyers and sellers.
Eyes are currently on Shiba Inu's current price range between $0.000014 and $0.000015 where 26.38 trillion SHIB are being held by 39,780 addresses at an average cost basis of $0.000014, per IntoTheBlock data.
A rise above this key level would meet a gigantic resistance in the range of $0.000015 and $0.000019 where 539.92 trillion SHIB were previously bought at an average cost of $0.000017 by 132,610 addresses.
On the other hand, support lies at $0.000011, an average cost basis for 97.45 trillion SHIB.
Vladislav Sopov
U.Today Editorial Team