{"id":607932,"date":"2024-05-14T20:00:27","date_gmt":"2024-05-14T20:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=607932"},"modified":"2024-06-11T07:00:02","modified_gmt":"2024-06-11T07:00:02","slug":"shiba-inu-volume-flips-dogecoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-volume-flips-dogecoin\/","title":{"rendered":"Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analyst\u2019s Prediction Comes True?"},"content":{"rendered":"

Shiba Inu is up by 7% in the past 24 hours amidst an uptick in the meme coin market, coming ahead of Dogecoin at this time. The meme coin niche has witnessed a strong resurgence in the past day, with the entire niche up by 7.82%. Shiba Inu has particularly done well and witnessed a strong volume of interest amidst this uptick. Interestingly, this uptick in volume for SHIB has surpassed DOGE, with on-chain data <\/span>suggesting SHIB could do better<\/span><\/a> in the short term. At the same time, crypto analyst Ali Martinez has revealed a phenomenon that could lead to a 20% upswing for SHIB.<\/span><\/p>\n

Shiba Inu Volume Flips Dogecoin<\/h2>\n

Data from Coinmarketcap<\/span><\/a> shows that Shiba Inu has witnessed a trading volume increase of 320% in the past 24 hours. The metric, on Dogecoin’s side, was an increase of 160%. The crypto, which has been trading inside a descending channel for a while, is now appearing to make a push above.\u00a0<\/span><\/p>\n

Related Reading: Analyst Who Predicted Solana\u2019s 1,100% Move Reveals Where The Altcoin Is Headed Next<\/a><\/p>\n

Although current data from analytics platform IntoTheBlock (ITB) suggests <\/span>DOGE <\/span><\/a>is still holding on for a longer-term overperformance over <\/span>SHIB<\/span><\/a>, SHIB is starting to position itself to outperform DOGE in the short term on a cost basis. According to ITB’s holding by time metric, DOGE has seen a 1.86% increase in the number of holders in the past 30 days, compared to a 0.43% increase for SHIB. ITB terms holders as passive investors that have held the asset for more than one year.\u00a0<\/span><\/p>\n

However, the number of cruisers (investors holding between 1 to 12 months) flips the short-term interest in the favor of SHIB. As of this writing, SHIB\u2019s cruisers have increased by +5.69% in a 30-day timeframe. The metric, on DOGE\u2019s side, shows a 2.44% decrease.<\/span><\/p>\n

\"Shiba
Source: IntoTheBlock<\/figcaption><\/figure>\n

SHIB To Breakout Of Parallel Channel<\/h2>\n

The recent increase in volume and short-term activity suggests that <\/span>SHIB is ready to break out<\/span><\/a> of a descending parallel channel of lower highs. As pointed out on social media by crypto analyst Ali Martinez, SHIB has been trading in a descending parallel channel since the last week of April. Current price action shows SHIB is now at the upper end of the descending and is at a critical junction for a breakout or reversal.\u00a0<\/span><\/p>\n

Related Reading: Analyst Points Out Level To Beat If Bitcoin Is To Reach $76,000<\/a><\/p>\n

According to the analyst, a breakout from this channel at $0.00002444 could lead to another 20% upswing to $0.00002954. The price target serves as the highest point of the descending channel under consideration. A further surge could see SHIB returning back to the $0.00003 price territory.\u00a0<\/span><\/p>\n

\n

If #ShibaInu<\/a> breaks the upper boundary of this descending parallel channel at $0.00002444, $SHIB<\/a> could witness a 20% upswing to $0.00002954! pic.twitter.com\/z5qBKiiyNy<\/a><\/p>\n

\u2014 Ali (@ali_charts) May 13, 2024<\/a><\/p><\/blockquote>\n

At the time of writing, SHIB is trading at $0.0000236. Failure to break above $0.00002444 could send the cryptocurrency back down as far as $0.0000211.<\/span><\/p>\n

\"Shiba
SHIB price rises above $0.000023 | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from MARCA, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu is up by 7% in the past 24 hours amidst an uptick in the meme coin market, coming ahead of Dogecoin at this time. The meme coin niche has witnessed a strong resurgence in the past day, with the entire niche up by 7.82%. Shiba Inu has particularly done well and witnessed a strong volume of interest amidst this uptick. Interestingly, this uptick in volume for SHIB has surpassed DOGE, with on-chain data suggesting SHIB could do better in the short term. At the same time, crypto analyst Ali Martinez has revealed a phenomenon that could lead to a 20% upswing for SHIB. Shiba Inu Volume Flips Dogecoin Data from Coinmarketcap shows that Shiba Inu has witnessed a trading volume increase of 320% in the past 24 hours. The metric, on Dogecoin’s side, was an increase of 160%. The crypto, which has been trading inside a descending channel for a while, is now appearing to make a push above.\u00a0 Related Reading: Analyst Who Predicted Solana\u2019s 1,100% Move Reveals Where The Altcoin Is Headed Next Although current data from analytics platform IntoTheBlock (ITB) suggests DOGE is still holding on for a longer-term overperformance over SHIB, SHIB is starting to position itself to outperform DOGE in the short term on a cost basis. According to ITB’s holding by time metric, DOGE has seen a 1.86% increase in the number of holders in the past 30 days, compared to a 0.43% increase for SHIB. ITB terms holders as passive investors that have held the asset for more than one year.\u00a0 However, the number of cruisers (investors holding between 1 to 12 months) flips the short-term interest in the favor of SHIB. As of this writing, SHIB\u2019s cruisers have increased by +5.69% in a 30-day timeframe. The metric, on DOGE\u2019s side, shows a 2.44% decrease. SHIB To Breakout Of Parallel Channel The recent increase in volume and short-term activity suggests that SHIB is ready to break out of a descending parallel channel of lower highs. As pointed out on social media by crypto analyst Ali Martinez, SHIB has been trading in a descending parallel channel since the last week of April. Current price action shows SHIB is now at the upper end of the descending and is at a critical junction for a breakout or reversal.\u00a0 Related Reading: Analyst Points Out Level To Beat If Bitcoin Is To Reach $76,000 According to the analyst, a breakout from this channel at $0.00002444 could lead to another 20% upswing to $0.00002954. The price target serves as the highest point of the descending channel under consideration. A further surge could see SHIB returning back to the $0.00003 price territory.\u00a0 If #ShibaInu breaks the upper boundary of this descending parallel channel at $0.00002444, $SHIB could witness a 20% upswing to $0.00002954! pic.twitter.com\/z5qBKiiyNy \u2014 Ali (@ali_charts) May 13, 2024 At the time of writing, SHIB is trading at $0.0000236. Failure to break above $0.00002444 could send the cryptocurrency back down as far as $0.0000211. Featured image from MARCA, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":607938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[167,6664,26263,14690,1785,89174,85675,7,1803,1804,79599,79600,83668,89178,84473,83667,89157,86437,84562,84558],"class_list":["post-607932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Volume Flips Dogecoin, Will SHIB Price Flip 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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