{"id":35435,"date":"2025-01-13T17:33:59","date_gmt":"2025-01-13T17:33:59","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=35435"},"modified":"2025-01-13T17:33:59","modified_gmt":"2025-01-13T17:33:59","slug":"key-shiba-inu-indicator-flashes-the-buy-signal-is-shib-ready-for-a-price-reversal","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=35435","title":{"rendered":"Key Shiba Inu Indicator Flashes the Buy Signal: Is SHIB Ready for a Price Reversal?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Despite recent market declines, SHIB\u2019s RSI indicates an oversold condition, presenting a potential buying opportunity.<\/span>
\nThe upcoming launch of TREAT and the negative exchange netflow also suggest potential price pump for the second-largest meme coin.<\/p>\n

<\/a><\/span><\/h2>\n

Is It Time for the Bears to Step Down?<\/h2>\n

The last 24 hours have been quite painful for the cryptocurrency market. <\/span>The <\/span>entire capitalization of the sector<\/span> has plummeted by 5.5% and currently stands below $3.3 trillion. For their part, leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), Cardano (ADA)<\/span>, <\/span>are <\/span>well in the red<\/span><\/a> on a daily scale.<\/span>\u00a0<\/span><\/p>\n

The popular meme coin Shiba Inu (SHIB) is also among the losers. <\/span>Its price has fallen by 7% in the past 24 hours and, as of this writing, is worth around $0.00002023 (per CoinGecko\u2019s data).
\n<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

Contrary to the bearish landscape, one <\/span>important<\/span> metric suggests good days <\/span>ahead<\/span> for the bulls. <\/span>This<\/span> is<\/span> Shiba Inu\u2019s Relative Strength Index (RSI)<\/span>, which<\/span> measures the change and speed of price movements.<\/span><\/p>\n

The technical analysis tool varies from 0 to 100<\/span>, and any<\/span> ratio below 30 indicates that the asset might be oversold and undervalued.<\/span> For its part, this signals a potential buying opportunity. The RSI has been hovering between 30 and 55 for the past five days, most recently <\/span>dropping<\/span><\/a> to as low as 29.<\/span><\/p>\n

Additional Factors<\/span><\/h2>\n

Another element suggesting that the price of the self-proclaimed Dogecoin killer might rally in the short term is the asset\u2019s exchange <\/span>netflow<\/span>. According to CryptoQuant\u2019s data, SHIB outflows have significantly <\/span>surpassed<\/span><\/a> inflows in the past week.\u00a0<\/span><\/p>\n

This<\/span> signals a shift from centralized platforms toward self-custody methods <\/span>and<\/span> could be viewed as bullish since <\/span>it<\/span> reduces<\/span> the immediate selling pressure.<\/span><\/p>\n

Last but not least, we will touch upon the upcoming launch of TREAT<\/a>. The reward token part of Shiba Inu\u2019s ecosystem <\/span>is scheduled<\/span> to<\/span> go live later this week. The development could spur enthusiasm across the community, potentially leading to more people jumping on the bandwagon and a subsequent price rally for SHIB.<\/span><\/p>\n

It is worth mentioning that TREAT\u2019s launch has already caught the attention of some leading crypto exchanges that have announced they will allow trading services with the meme coin. Examples are <\/span>KuCoin<\/span><\/a> and MEXC Exchange.\u00a0<\/span><\/p>\n

The post Key Shiba Inu Indicator Flashes the Buy Signal: Is SHIB Ready for a Price Reversal?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Despite recent market declines, SHIB\u2019s RSI indicates an oversold condition, presenting a potential buying opportunity. The upcoming launch of TREAT and the negative exchange netflow also suggest potential price pump for the second-largest meme coin. Is It Time for the Bears to Step Down? The last 24 hours have been quite painful for the […]<\/p>\n","protected":false},"author":0,"featured_media":35436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-35435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/35435"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35435"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/35435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/35436"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}