Shiba Inu Price Prediction as SHIB Surges to $0.00002569 – Should You Invest Today?

cryptonews.com:

Shiba Inu has risen by 4% today, with its price reaching $0.00002589 as the crypto market as a whole gains by 1% in the past 24 hours.

SHIB has now increase by 13.5% in the past week, and while it’s down by 13% in a month, it has posted a 145% return in the past year.

It continues to have momentum after its developers announced funding for a new layer-three network this past week, with its gains likely to continue for at least the next few days.

And with the wider market due a strong comeback in the next few months, it should appreciate significantly in the medium- and long-term.

Today seems to be the beginning of a recovery for SHIB, which could potentially spend the rest of the weekend compensating for the losses of the past two days.

Its relative strength index (purple) has risen to 50 today after hitting 30 on previous days, a sign of returning momentum that still has plenty of space for more growth.

At the same time, SHIB’s 30-day average (orange) has halted a decline and looks ready to resume climbing further above the 200-day (blue), providing another sign that the growth initiated last weekend hasn’t quite played out yet.

What’s a little weird though is that the coin’s trading volume is still modest, at about $800 million, compared to a high of $15 billion in early March.

But with SHIB’s resistance (red) and support (green) levels converging on each other, this low volume could enable a strong move in the next few days.

There have been some big SHIB transfers in recent days, with Wednesday seeing one exchange worth nearly $80 million between two unidentified wallets.