Shiba Inu Price Prediction as Trading Volume Surges to $600 Million – Time to Buy?

cryptonews.com:

The Shiba Inu price has gained by 3% today, rising to $0.00002909, as the crypto market as a whole has enjoyed a 4.5% increase in the past 24 hours.

SHIB is now up by 1.5% in a week and by 4.5% in a fortnight, although the popular meme token is actually down by 15% in the last 30 days.

Despite this disappointing performance, the coin’s trading volume – which has risen from $350 million to $700 million in the past couple of days – suggests that it’s about to enjoy a steady rally.

And with the entire market waiting excitedly for the next Bitcoin halving, SHIB could post some decent gains very soon.

Now would seem to be a very good time to buy SHIB, given that its indicators all point to the beginning of a rally.

Its 30-day moving average (orange) climbed over its 200-day (blue) just over a day ago, forming a golden cross that can often signal a breakout rally.

Similarly, its relative strength index (purple) is rising towards 70, after dipping below 50 in the very early hours of the morning.

And when combined with SHIB’s rising volume, traders will be forgiven for suspecting that the coin is about spike healthily in the next few days.

In fact, this looks quite likely, given that whales have been accumulating SHIB recently, with today seeing one big transfer worth $19.26 million.