Volatility in the Inu Shiba (Shib) The prize labeled in dollars has dropped, while the token continues to lose ground against his peer, Dogecoin .
The volatility carried out of 90 days of shib fell to 64% annualized, the lowest since December 2023, according to data source tradingView. The volatility achieved measures how much the price of an asset has really fluctuated during a specific previous period. In other words, it quantifies the price oscillations that have already occurred, giving a view of the turbulence of historical prices.
Since May, the cryptocurrency has entered a narrowed price range, characterized by convergent trend lines which connect the lower and higher ups. The direction in which the range is ultimately resolved will probably set the tone for the next big movement.
In the past 24 hours, the price worded in dollar in Shib has won more than 2%. According to Coindesk Analytics, the token made a notable technical breakthrough, reaching an intraday peak of $ 0.000013584 at 10:00 p.m. on September 17, supported by extraordinary negotiation volumes of 2.08 billion tokens.
In particular, the critical resistance materialized around the threshold of 0.000013584, where the action of the prices was reversed in the middle of an increased volume, while the robust support established almost 0.000012882 $, delimiting a trading corridor of 0.000007020 or 5%.
In the midst of this, the activity of the whales intensified, with more than 7 billions of displaced tokens on Saturday, including 512 billion priests transferred from Kraken to uncommon addresses.
Key technical information
- Price parameters: The token exchanged between 0.00000012882 treatment and 0.00000013584 Resistance, establishing a commercial range of 0.000007020 representing a volatility of 5%.
- Volume assessment: an exceptional increase in volume of 2.08 billions of tokens during the 6:00 p.m. substantially exceeded the average of 24 hours of 533.5 billion tokens.
- Levels of support and resistance: Robust support materialized almost 0.000012882, while the resistance of the keys emerged at 0.000013584, where the price was reversed in the middle of a high volume.
- Consolidation framework: The last hours have shown close consolidation between $ 0.000013323 and 0.000013373, suggesting a potential accumulation preceding the following directional movement.
- Characteristics of the volume: increased activity during resistance tests with a wave of chips of 7.55 billion at 11:40, followed by a reduced volume of 187 million tokens in the final minutes.
SHIB Record against DOGE
The pair of Shib-Dooge listed in Binance, which represents the price of SHIB compared to DOGE, fell to 0.0000472, the lowest since the exchange listed La Pair in November 2021.
The pair recently threw a laterally scheme, marking a continuation of the prolonged downward trend in the vertices of March 2024. The prospects for SHIB relating to DOGE will remain lower while the downward trend remains intact.
