Crypto
Shiba Inu Price Volatility Spikes 351% Amid Market Turbulence
Shiba Inu (SHIB) has seen an extraordinary surge in market activity, with its short-term metrics increasing by 351% in just eight hours. This significant spike occurred after SHIB was rejected from above $0.00000620.
The price of SHIB has stabilized, currently trading at around $0.00000589. The token dropped by 7.69% on September 23 after hitting $0.00000624, but the next day saw a 2.3% increase.
Technically speaking, the 200-day moving average is where the most significant development is taking place. After spending months below this long-term indicator near $0.0000056, SHIB has finally surpassed it. This move is significant as it indicates a potential conversion to support.