{"id":607932,"date":"2024-05-14T20:00:27","date_gmt":"2024-05-14T20:00:27","guid":{"rendered":"https:\/\/ktsl888.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:\/\/ktsl888.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":"<p><span style=\"font-weight: 400\">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><a href=\"https:\/\/bitcoinist.com\/3000-surge-for-shiba-inu\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">suggesting SHIB could do better<\/span><\/a><span style=\"font-weight: 400\"> 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<h2>Shiba Inu Volume Flips Dogecoin<\/h2>\n<p><a href=\"https:\/\/coinmarketcap.com\/currencies\/shiba-inu\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Data from Coinmarketcap<\/span><\/a><span style=\"font-weight: 400\"> shows that Shiba Inu has witnessed a trading volume increase of 320% in the past 24 hours. The metric, on Dogecoin&#8217;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<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/solana\/solana-1100-move-headed-next\/\">Analyst Who Predicted Solana\u2019s 1,100% Move Reveals Where The Altcoin Is Headed Next<\/a><\/p>\n<p><span style=\"font-weight: 400\">Although current data from analytics platform IntoTheBlock (ITB) suggests <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/DOGE\/deep-dive?group=ownership&amp;chart=timeHeld\" rel=\"nofollow\"><span style=\"font-weight: 400\">DOGE <\/span><\/a><span style=\"font-weight: 400\">is still holding on for a longer-term overperformance over <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/SHIB\/deep-dive?group=ownership&amp;chart=timeHeld\" rel=\"nofollow\"><span style=\"font-weight: 400\">SHIB<\/span><\/a><span style=\"font-weight: 400\">, SHIB is starting to position itself to outperform DOGE in the short term on a cost basis. According to ITB&#8217;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<p><span style=\"font-weight: 400\">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<figure id=\"attachment_299942\" aria-describedby=\"caption-attachment-299942\" style=\"width: 512px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-299942 size-medium\" src=\"https:\/\/i0.wp.com\/bitcoinist.com\/wp-content\/uploads\/2024\/05\/Shiba-inu-1.png?resize=512%2C341&#038;ssl=1\" alt=\"Shiba inu\" width=\"512\" height=\"341\"><figcaption id=\"caption-attachment-299942\" class=\"wp-caption-text\">Source: IntoTheBlock<\/figcaption><\/figure>\n<h2>SHIB To Breakout Of Parallel Channel<\/h2>\n<p><span style=\"font-weight: 400\">The recent increase in volume and short-term activity suggests that <\/span><a href=\"https:\/\/ktsl888.com\/shiba-inu\/350-surge-for-shiba-inu\/\"><span style=\"font-weight: 400\">SHIB is ready to break out<\/span><\/a><span style=\"font-weight: 400\"> 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<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/level-to-beat-bitcoin-76000\/\">Analyst Points Out Level To Beat If Bitcoin Is To Reach $76,000<\/a><\/p>\n<p><span style=\"font-weight: 400\">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<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">If <a href=\"https:\/\/twitter.com\/hashtag\/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#ShibaInu<\/a> breaks the upper boundary of this descending parallel channel at $0.00002444, <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$SHIB<\/a> could witness a 20% upswing to $0.00002954! <a href=\"https:\/\/t.co\/z5qBKiiyNy\" rel=\"nofollow\">pic.twitter.com\/z5qBKiiyNy<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/59001968?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 13, 2024<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">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<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/EdY2hSum\/\" alt=\"Shiba Inu price chart from Tradingview.com (Dogecoin)\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">SHIB price rises above $0.000023 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image from MARCA, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;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&#8217;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":"\n<title>Shiba Inu Volume Flips Dogecoin, Will SHIB Price 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