$SHIB
🚨Shiba Inu Price Update🚨
Shiba Inu (SHIB) has still been riding the recovery rally as of this month, with its price increasing by approximately 11% since the start of July, and surging over the significant $0.000015 level after a marked pickup in burns, whale hoarding, and momentum of its ecosystem growth.
According to analysts, the token was able to recently slip out of an extended downtrend crossing above the price of $0.000015 and printing several bullish candles, which is an indication that it will soon reverse its direction towards its next resistive mark at the price of $0.000017. Technical indicators indicate overbought states indicating that there is a risk of a setback or a slight stall prior to further advancement in targets.
At a macro-scale, the progress of SHIB can be compared to the reinforcement within the Ethereum ecosystem and its Layer-2 protocol, Shibarium, which further proved the potential of the coin in short-to-mid-term. Although momentum is gathering and on-chain fundamentals are strengthening, it will be interesting to note how SHIB fares on a price range of $0.000017 to $0.000020.