{"id":88072,"date":"2025-08-13T11:01:59","date_gmt":"2025-08-13T11:01:59","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=88072"},"modified":"2025-08-13T11:01:59","modified_gmt":"2025-08-13T11:01:59","slug":"why-is-the-shiba-inu-shib-price-up-today-3","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=88072","title":{"rendered":"Why Is the Shiba Inu (SHIB) Price Up Today?"},"content":{"rendered":"

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

SHIB is well in the green today (August 13), with some analysts recently suggesting it could be ready to soar to a new all-time high in the near future.<\/span>
\nHowever, some critical indicators, including the RSI, hint that the price might cool off in the short term.<\/p>\n

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

What Triggered the Rally?<\/h2>\n

Shiba Inu\u2019s price has jumped by over 8% in the past 24 hours and is currently trading at around $0.00001394 (per CoinGecko\u2019s data). Its market capitalization exceeded $8.2 billion, making it the 28th-largest cryptocurrenc<\/span>y.
\n<\/span><\/p>\n

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

Perhaps the<\/span> most likely reason behind the pump is the broader rally of the digital asset market, more specifically, the meme coin sector.<\/span> Popular assets of that type, including <\/span>Dogecoin (DOGE)<\/span><\/a>, Pepe (PEPE), Bonk (BONK), <\/span>Pump<\/span>.fun<\/span> (PUMP), Fartcoin (FARTCOIN), dogwifhat (WIF), and many more have posted double-digit gains on a daily scale.<\/span><\/p>\n

Another factor could be the resurgence of Shiba Inu\u2019s burning mechanism. The burn rate has <\/span>exploded<\/span><\/a> by almost 50,000% over the last 24 hours, with nearly 90 million tokens sent to a dead wallet. Interestingly, a single transaction comprised around 98% of that amount.<\/span><\/p>\n

The program\u2019s ultimate goal is to reduce the overall supply of SHIB coins, thus making them more valuable in time (assuming demand remains strong).<\/span><\/p>\n

Investors Should Remain Cautious<\/span><\/h2>\n

Despite SHIB\u2019s revival and <\/span>the<\/span> numerous predictions<\/a> on X that the price could <\/span>keep pumping<\/span> in the short term, people should keep in mind <\/span>certain<\/span> indicators that <\/span>point to<\/span> a potential pullback.<\/span><\/p>\n

Shiba Inu\u2019s exchange netflow has been positive <\/span>in<\/span> the last week, <\/span>signaling<\/span> that investors have <\/span>switched<\/span> from self-custody methods to centralized platforms.<\/span> This<\/span>, in turn, increases the immediate selling pressure.<\/span><\/p>\n

<\/a>SHIB Exchange Netflow, Source: CryptoQuant<\/p>\n

The meme coin\u2019s Relative Strength Index (RSI) is also worth monitoring. The technical analysis tool measures the speed and magnitude of the latest price changes, helping traders identify potential reversal points. <\/span><\/p>\n

Typically, readings around and beyond 70 suggest the valuation has increased too much in a short period <\/span>of time<\/span> and <\/span>could<\/span> be due for correction.<\/span> Conversely, anything below 30 is considered a buying opportunity. As of this writing, the RSI stands above 62.
\n<\/span><\/p>\n

<\/a>SHIB RSI, Source: CryptoWaves<\/p>\n

The post Why Is the Shiba Inu (SHIB) Price Up Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR SHIB is well in the green today (August 13), with some analysts recently suggesting it could be ready to soar to a new all-time high in the near future. However, some critical indicators, including the RSI, hint that the price might cool off in the short term. What Triggered the Rally? Shiba Inu\u2019s price […]<\/p>\n","protected":false},"author":0,"featured_media":9562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-88072","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\/88072"}],"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=88072"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9562"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}