Shiba Inu Experiences V-Shaped Recovery with 2 Trillion SHIB Volume
Shiba Inu's SHIB has rebounded from a 16-month low, with trading volumes surging, according to CoinDesk's AI research.
Key points include:
- SHIB's price rose to $0.00001080 after hitting a low of $0.00001025 on Sunday.
- Bitcoin has also regained the $100,000 level amid geopolitical tensions.
- Trading volume exceeded 2 trillion SHIB, more than double its 24-hour average.
- The price formed higher lows and higher highs, facing resistance near $0.00001088 during Monday's Asian trading hours.
Key AI insights
- SHIB stabilized around $0.00001081 with strong volume support following a dip.
- Geopolitical factors continue to impact cryptocurrency markets, with SHIB displaying a V-shaped recovery pattern.
- Volume peaked at nearly 8 trillion units during a significant candle, indicating high market participation.
- A double-top pattern emerged at approximately $0.00001083, suggesting considerable selling pressure at this level.
Hourly chart
- SHIB has breached the descending trendline from Friday's sell-off.
- Prices have not yet crossed above the Ichimoku cloud, which would indicate a bullish trend reversal.