{"id":498970,"date":"2022-08-17T05:13:30","date_gmt":"2022-08-17T05:13:30","guid":{"rendered":"https:\/\/uniquehot.com\/?p=498970"},"modified":"2024-06-11T07:51:50","modified_gmt":"2024-06-11T07:51:50","slug":"shib-on-fire-but-caution-required-in-taking-trading-positions","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shib-on-fire-but-caution-required-in-taking-trading-positions\/","title":{"rendered":"SHIB On Fire \u2013 And A Bull Run Could Be Around The Corner \u2013 Here\u2019s Why"},"content":{"rendered":"<p><em><span style=\"font-weight: 400\">Shiba Inu (SHIB) price has spiked by over 30%, signifying a bull run may not be far away.<\/span><\/em><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">SHIB price surged by over 30% on August 14<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Shiba Inu trading volume peaked to 700% yesterday; highest since April 12<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">SHIB registers extended period of MDIA which means traders must exercise caution<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">SHIB price has peaked to as high as $0.00017, which is considerably the highest it has been since May 10. More so, trading volume has also climbed to 700% over the weekend which is the highest registered since April 12.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Shiba Inu network registered a huge uptrend in whale transactions soaring to as much as $100,000 as seen in August trading session. Considerably, around 400 whale transactions were done catapulting to a record-breaking transactions amounting to more than $100,000 that SHIB was able to log in the past few months.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/polygon-seen-breaching-1-this-week-can-matic-start-an-uptrend\/\">Polygon Seen Breaching $1 This Week \u2013 Can MATIC Start An Uptrend?<\/a><\/div>\n<h2><strong>SHIB Daily Chart Shows Premature Bull Run<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Judging by the movement of SHIB on the daily chart, it seems that the price spike seen over the weekend is a premature call for a bull run.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the MFI and RSI chartering the overbought zones, the MACD position isn\u2019t showing any potential bull run. Apparently, there were no intersections seen between the trend lines and MACD that could hint a gigantic uptrend.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/shiba-inu\/\" rel=\"nofollow\"> <span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">, SHIB is up by 2.72% or trading at $0.00001619 as of this writing. Despite the coin soaring in value overnight, the MVRV for 1D is low at -7.498% which hints that only a few investors gained profit from the price rally yesterday.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the other hand, the MVRV for 30D is seen to be positive at +28.32%.<\/span><\/p>\n<h2><strong>SHIB Shows Extended MDIA<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Another metric to be considered by investors is the MDIA or Mean Dollar Invested Age which refers to the mean or average of all the tokens and\/or coins on the blockchain based on price.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When the MDIA increases, it signifies that the tokens are lying dormant in wallets. An extended period of MDIA uptrend warns that the network is in a lull or stagnant phase which will make it extremely hard to push the price up.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Shiba Inu\u2019s MDIA shows that its MDIA has been stretched for a long time or six months at most. With that being said, traders must always be cautious in taking trading positions because the MDIA indicates that SHIB may fall.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Another dog meme coin, Dogecoin (DOGE) also logged remarkable gains in yesterday\u2019s trading session even without any support from Elon Musk who has been unusually silent about the coin for several months now.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ripple\/xrp-sluggish-at-resistance\/\">XRP Sluggish At Resistance \u2013 Will It Break Out After 2 Months Of Vertigo?<\/a><\/div>\n<div><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/Xj2i3tDp\/\" width=\"1834\" height=\"875\"><\/div>\n<div>\n<pre style=\"text-align: center\">SHIB total market cap at $9.12 billion on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a>\r\n\r\nFeatured image from Analytics Insight, chart from <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu (SHIB) price has spiked by over 30%, signifying a bull run may not be far away. SHIB price surged by over 30% on August 14 Shiba Inu trading volume peaked to 700% yesterday; highest since April 12 SHIB registers extended period of MDIA which means traders must exercise caution SHIB price has peaked to as high as $0.00017, which is considerably the highest it has been since May 10. More so, trading volume has also climbed to 700% over the weekend which is the highest registered since April 12. Shiba Inu network registered a huge uptrend in whale transactions soaring to as much as $100,000 as seen in August trading session. Considerably, around 400 whale transactions were done catapulting to a record-breaking transactions amounting to more than $100,000 that SHIB was able to log in the past few months. Related Reading: Polygon Seen Breaching $1 This Week \u2013 Can MATIC Start An Uptrend? SHIB Daily Chart Shows Premature Bull Run Judging by the movement of SHIB on the daily chart, it seems that the price spike seen over the weekend is a premature call for a bull run. With the MFI and RSI chartering the overbought zones, the MACD position isn\u2019t showing any potential bull run. Apparently, there were no intersections seen between the trend lines and MACD that could hint a gigantic uptrend. According to CoinMarketCap, SHIB is up by 2.72% or trading at $0.00001619 as of this writing. Despite the coin soaring in value overnight, the MVRV for 1D is low at -7.498% which hints that only a few investors gained profit from the price rally yesterday. On the other hand, the MVRV for 30D is seen to be positive at +28.32%. SHIB Shows Extended MDIA Another metric to be considered by investors is the MDIA or Mean Dollar Invested Age which refers to the mean or average of all the tokens and\/or coins on the blockchain based on price. When the MDIA increases, it signifies that the tokens are lying dormant in wallets. An extended period of MDIA uptrend warns that the network is in a lull or stagnant phase which will make it extremely hard to push the price up. Shiba Inu\u2019s MDIA shows that its MDIA has been stretched for a long time or six months at most. With that being said, traders must always be cautious in taking trading positions because the MDIA indicates that SHIB may fall. Another dog meme coin, Dogecoin (DOGE) also logged remarkable gains in yesterday\u2019s trading session even without any support from Elon Musk who has been unusually silent about the coin for several months now. Related Reading: XRP Sluggish At Resistance \u2013 Will It Break Out After 2 Months Of Vertigo? SHIB total market cap at $9.12 billion on the daily chart | Source: TradingView.com Featured image from Analytics Insight, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":498978,"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":[1144,86484,65296,8686,83668,84473,83667,84562,84558],"class_list":["post-498970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-btcusd","tag-dog-meme-coin","tag-ethbtc","tag-ethusd","tag-shib","tag-shib-price","tag-shiba-inu","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\n<title>SHIB On Fire \u2013 And A Bull Run Could Be Around The Corner \u2013 Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Shiba Inu (SHIB) price has spiked by over 30%, signifying a bull run may not be far away. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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