Over the past week, the financial world has been rocked by SHIB’s price skyrocketing as the coin ascended to the popular triangle pattern. Dogecoin initially started the alarming trends of fluctuations and had Shiba Inu holders worried, however, SHIB has proved wrong as it has continued to group. The price of Shiba Inu has been following the textbook models, which has been very easy to analyse for traders and sellers.
Elon Musk’s favorite digital currency Dogecoin is also slowly growing towards a market capitalization trend. Shiba Inu on the other hand is currently the most traded currency on Binance, Coinbase and Huobi. The main question that remains for traders: How long will the coin continue to rise? Can it finally surpass its initial price fluctuations?
Several financial reporters documented that throughout the last week Shib Inu has surged with more than a total of 260%. The recent surge in prices has given the title to SHIB as the king of “meme coins”. Despite the positive movements, investors still remain sceptical of the coin’s future.
One of the more iconic moments throughout the past weeks has been the anonymous purchase of almost 6.3 trillion SHIB coins in just over 2 days. The anonymous buyer bought 6 trillion coins which were worth a total $43,838,900 at the time. This vastly increased the value of Shiba and saw surges all across the SHIB market.
The ascending triangle pattern that the coin formed is a perfect representative of the massive price fluctuations and successes it has had over the past week. However, the high prices can easily go back to normal if buyers lose their interest. If prices fall below $0.00002442 a sequence of extreme selling can be triggered.
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