Shiba Inu Price Prediction as $200 Million Trading Volume Rushes In, Investors Also Bullish on Love Hate Inu

cryptonews.com:

The Shiba Inu price has dipped very slightly to $0.00001059 today, representing a 0.2% fall in the past 24 hours and a 3% loss in the past week.

SHIB is also down by 12% in the last 30 days, although it remains up by 30% since the beginning of the year.

Despite its losses today, there are signs that its trading volume is rising again, with the latter's move up to $200 million potentially signaling an incoming rally.

This suspicion is supported by just how oversold and undervalued SHIB has been in recent weeks, with the development of Shibarium and also SHIB: The Metaverse likely to provide two major events this year which will boost the meme token's price.

And while major rallies may take some time to arrive for SHIB, another meme token, Love Hate Inu (LHINU), is drawing in investors with promises of big gains, with its presale now having raised an impressive $2.25 million.

SHIB's indicators continue to show a lack of momentum and the ongoing existence of selling pressure, with both its 30-day moving average (red) and its relative strength index (purple) not too far from oversold territory.

While it rose from 30 up to 45 in the past week, SHIB's RSI has apparently stalled, with the lack of buying momentum potentially setting it up for further falls.

Likewise, the coin's 30-day moving average is about to fall below its 200-day average (blue), forming a 'death cross' that can predict more losses.

As such, traders may prefer to hold off a while so that SHIB can bottom, at which point the market is likely to see a recovery of some kind.

Indeed, with layer-two network Shibarium set to witness a full public launch next month, April could end up being kinder to SHIB than March.

The L2 is already live in beta form, with its network seeing