• Shiba Inu (SHIB) has seen its price rise by 4% in the past 24 hours as the crypto market recovers from a weekend selloff.
• SHIB is down 1.5% in a week, but up 35% since the beginning of the year and is one of the most traded ERC-20 tokens.
• The ongoing banking crisis could push investors to turn to crypto, with SHIB potentially reaching $0.00001250 before month’s end if it can break through $0.000015 resistance level.
Shiba Inu Price Rises 4%, Rally Could Last
Shiba Inu (SHIB) has seen its price rise by 4% in the past 24 hours as the cryptocurrency market recovers from a weekend’s selloff and benefits from fears over the banking system. At $0.00001099, SHIB remains down by 1.5% in a week and by 15% in the last 30 days, although it has risen by 35% since the beginning of 2021.
Ongoing Banking Crisis Boosts Crypto
The ongoing banking crisis could push investors to turn to crypto, with SHIB potentially reaching $0.00001250 before month’s end if it can break through $0.000015 resistance level. Its relative strength index (purple) has jumped from 30 to just over 40, suggesting that today’s rally may continue throughout this week.
Biggest Holdings Among Large Investors
SHIB continues to be one of the most traded ERC-20 tokens in the market, according to data from WhaleStats, while also accounting for some of the biggest holdings (in dollar terms) among large investors at present time. Furthermore, Shiba Inu is still awaiting launch of Shibarium layer two network which could influence further rallies on its own right as well as support other cryptocurrencies due to increased liquidity within crypto markets when layer two networks go live such as Matic Network or Polygon Network for Ethereum blockchain ecosystem specifically.
Investor Sentiment Supports Bullish Momentum
Investor sentiment remains positive towards cryptocurrency investments at this time with many people looking for alternative investments than traditional banks especially during times like these where there are fears over banking systems failing and even major banks seeing massive stock price declines such as Credit Suisse recently or Silvergate Bank already failing outright earlier this year in January 2021 already which serves only proof how fragile traditional banking system truly is and how much appeal digital assets hold compared to them in longer term perspective no matter short term hiccups along way due to occasional crashes or corrections within crypto markets overall too due to profit taking opportunities etc..
To conclude we can stay cautiously optimistic about Shiba Inu’s price movements going forward with potential further rallies incoming not only based on current banking situation but also upcoming launch of Shibarium layer two network providing additional buying pressure within digital asset markets overall too supporting prices across board including Shiba Inu ultimately leading us into new all time highs once again soon enough soon enough too!