Shiba Inu (SHIB) Awakens: Is a Mega Rally About to Begin?

TL;DR Analysts believe SHIB can soon pump by double and even triple ￰0￱ resurgence of Shiba Inu’s burning mechanism and the sharp rebound in Shibarium activity support the bullish thesis, but the RSI has reached near 70, signaling potential ￰1￱ to Take Center Stage Again ? The second-largest meme coin has not performed well in the past few months and is currently trading significantly below the local peaks reached at the end of 2024. However, it managed to close last week in green territory, climbing by nearly 5% to approximately $0.00001258 (per CoinGecko’s data). SHIB Price,).

The layer-2 blockchain solution Shibarium also witnessed a substantial ￰2￱ transactions processed on the protocol skyrocketed above 1.2 million on September 6 and nearly 500,000 the following day, marking a massive increase compared to the sub-20,000 transactions recorded towards the end of August. Nonetheless, some metrics hint at a bearish scenario. SHIB’s Relative Strength Index (RSI), which measures the speed and magnitude of the latest price changes, has reached almost ￰3￱ suggests the asset could be overbought and poised for a ￰4￱ the other hand, ratios below 30 are interpreted as a buying ￰5￱ RSI,) Awakens: Is a Mega Rally About to Begin?

appeared first on CryptoPotato .