{"id":175697,"date":"2023-05-19T13:31:00","date_gmt":"2023-05-19T13:31:00","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175697"},"modified":"2023-05-19T13:31:00","modified_gmt":"2023-05-19T13:31:00","slug":"shiba-inu-sees-juicy-capital-inflows-a-rebound-in-sight","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/shiba-inu-sees-juicy-capital-inflows-a-rebound-in-sight\/","title":{"rendered":"Shiba Inu Sees Juicy Capital Inflows – A Rebound in Sight?"},"content":{"rendered":"

Shiba Inu (SHIB) has recently caught the attention of investors as its chart reflects a significant surge in capital inflows and buying pressure. These developments have left many speculators wondering if this positive momentum will be sufficient to initiate a much-anticipated price rebound.\u00a0<\/span><\/p>\n

With increased interest and activity surrounding Shiba Inu, all eyes are now focused on whether this surge in support will ultimately lead to a revitalization of the cryptocurrency’s fortunes.<\/span><\/p>\n

Shiba Inu Price Consolidation And Increased Capital Inflows<\/strong><\/h2>\n

Shiba Inu, over the past few days, has witnessed relatively low volatility on higher timeframe price charts. From May 8 onwards, its price has oscillated within a range of $0.00000832 and $0.00000914, indicating a period of consolidation.<\/span><\/p>\n

At the time of writing, <\/span>CoinGecko<\/span> reflects Shiba Inu’s price at a mere $0.00000871. In the past 24 hours, the cryptocurrency experienced a slight slump of 1.4%. The meme coin was up a very modest 0.3% over the course of the last seven days.<\/span><\/p>\n

<\/p>\n

Source: Coingecko<\/p>\n

Despite the recent price consolidation, the daily chart’s CMF (Chaikin Money Flow) and RSI (Relative Strength Index) have <\/span>shown notable upward movements<\/span> in the past few days. The CMF suggests increased capital inflows, while the RSI indicates rising buying pressure.<\/span><\/p>\n

SHIB Potential Rally Based On Fib Retracement, Market Conditions<\/strong><\/h2>\n

To analyze the potential price movement of Shiba Inu, traders have utilized the Fibonacci retracement tool by placing it between the swing high of the first quarter (Q1) and the lows observed in December. This tool helps identify crucial levels based on the Fibonacci sequence.<\/span><\/p>\n

If the current trend in SHIB continues and the overall macro environment conditions continue to improve, there is a <\/span>possibility of a rally.<\/span> This rally could lead SHIB to reach the 23.6% Fibonacci retracement level, which stands at approximately $0.00000967.<\/span><\/p>\n

Fibonacci retracement levels are commonly used in technical analysis to identify potential support and resistance levels based on the historical price movement. The 23.6% level often represents an initial area of interest where a significant rebound or reversal could occur.<\/span><\/p>\n

<\/p>\n

SHIB market cap nearly unchanged at $5.22 billion. Chart: TradingView.com<\/p>\n

Related Reading: Bitcoin \u2018Shrimp\u2019 Catch Soars To All-Time High Of 1.31 Million Coins \u2013 Details<\/p>\n

Factors Influencing SHIB’s Potential Rally<\/strong><\/h3>\n

The realization of this potential rally in SHIB is contingent upon various factors, including the continuation of the current trend, market sentiment, and broader macroeconomic conditions. Positive developments and easing conditions could contribute to an upward movement in SHIB’s price.<\/span><\/p>\n

As traders and investors monitor these factors and the Fibonacci retracement levels, they will closely observe whether SHIB can indeed rally to the 23.6% Fib level, and if so, what implications it may have for the cryptocurrency’s future trajectory.<\/span><\/p>\n

-Featured image from Nairametrics<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu (SHIB) has recently caught the<\/p>\n","protected":false},"author":3,"featured_media":175696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nShiba Inu Sees Juicy Capital Inflows - A Rebound in Sight? - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/shiba-inu-sees-juicy-capital-inflows-a-rebound-in-sight\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shiba Inu Sees Juicy Capital Inflows - A Rebound in Sight? - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Shiba Inu (SHIB) has recently caught the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/shiba-inu-sees-juicy-capital-inflows-a-rebound-in-sight\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-19T13:31:00+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Shiba-Inu-Sees-Juicy-Capital-Inflows-A-Rebound-in-Sight.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/shiba-inu-sees-juicy-capital-inflows-a-rebound-in-sight\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/shiba-inu-sees-juicy-capital-inflows-a-rebound-in-sight\/\",\"name\":\"Shiba Inu Sees Juicy Capital Inflows - A Rebound in Sight? 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