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Shiba Inu Surges 20% Over Weekend Despite 16% Drop in 24 Hours

Shiba Inu (SHIB) investors saw a spike in token prices over the past weekend, with the meme coin surging almost 20% from its Friday levels. However, SHIB also witnessed a correction of more than 16% in the past 24 hours, according to CoinMarketCap data.

Price Update and Analysis

As of Monday morning, SHIB was trading at $0.0000100, up from $0.0000086 on Friday. However, the token also dropped from around $0.0000118 on Sunday to its current levels. This demonstrates the volatility currently plaguing SHIB.

According to TradingView technical analysis, key support levels for SHIB include $0.00000950, $0.00000896, and $0.00000834. The Relative Strength Index (RSI) for SHIB stands at 47, indicating bearish sentiment. The Moving Average Convergence Divergence (MACD) for SHIB is currently at -0.00000005, with the signal line at 0.00000013.

While the short-term price action for SHIB remains bearish, technical indicators point toward a cautiously bullish trend. The 50-Day Exponential Moving Average for SHIB is currently around $0.0000100. Closing above this level and an ascending trendline suggest further upside potential for SHIB prices.

Bitcoin Minetrix Presale Gaining Traction (https://www.bitcoinminetrix.com/)

Meanwhile, Bitcoin Minetrix (BTCMTX) has reportedly surpassed its $5.1 million investment target by raising $5.44 million so far. The project’s presale price currently stands at $0.0123, with total funds close to reaching the $6.26 million hard cap.

The BTCMTX community remains active on Discord and Telegram, providing updates about the upcoming price increase within 4 days and 4 hours.

As with all cryptocurrency investments, readers are advised to proceed with caution. The information in this article should not be considered investment advice.


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