Is Shiba Inu (SHIB) Heading the Right Direction Wednesday?

Shiba Inu receives a weak long-term technical score of 26 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.

SHIB currently holds a superior long-term technical analysis score than 26% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.

InvestorsObserver is giving Shiba Inu a 26 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Shiba Inu!

Trading Analysis

SHIB is currently $0.0000007 (6.02%) above its 100-day moving average price of $0.000011490 with its current price of $0.000012182. Meanwhile, Shiba Inu is $0.0000057 (-170765624.25%) above its 52-week low price of $0.000006442 and -$0.00007627 (-11305704.97%) below its 52-week high of $0.000088451. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 26. Trends for the long-term trading history of Shiba Inu suggest that traders are currently bearish on the token.


Shiba Inu has a market capitalization of $6,688,626,754.92 and a relatively high average daily volume with $2,240,737,036.36 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, SHIB’s volume is below its seven day average with 324,196,046.58 exchanged.

Summary

SHIB’s historical trading over the past year gives it a a weak long-term technical score of 26 as its price movement in that time has given investors reason to be bearish on the token in the long-term.

Click Here to get the full Report on Shiba Inu (SHIB).

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