SHIB price analysis for Feb 9, 2022 on the daily chart confirms a bullish sentiment surrounding the meme coin. The token has risen more than 6% in the last 24 hours followed by a 13.61% surge in the prices in the last 7 days. The adoption rate of the meme coin blew off the charts in 2021 and the developers are continuously working on the project to introduce more utility.
Shiba Inu’s popularity knew no bounds as recently, CryptoAltum listed SHIB on the MT5 trading platform. Moreover, we recently saw Shiba Inu jump 23% in a single day as per our SHIB price analysis for Feb 7, 2022. Also, popular cryptocurrency exchange platform Kraken, recently issued a bold statement and listed Shiba Inu, as per a report from TheCoinRise.
The data from CoinMarketCap shows that the trading volume for SHIB dropped nearly 42.64% in the last 24 hours followed by a surge of 3.28% in the market cap of the token. The token is currently 62.53% low from its all-time high that investors witnessed on Oct 28, 2021. Shiba Inu has huge potential for growth and recently, we saw the SHIB token triple in value in a single week.
The SHIB price analysis shows that the meme coin opened the day at a price of $0.0000309 and reached a daily high of $0.00003387. The daily low for the token stands at $0.00003042.
SHIB price analysis on the daily chart
Shiba Inu price analysis on the daily chart shows that the token has broken out from the upper end of the Bollinger Bands which means that bulls are in charge.
The token has conquered the 50-day Moving Average and it seems that the next target is to conquer the 100-day MA.
SHIB price analysis on the daily chart can be concluded on a bullish analysis for Feb 9, 2022. It seems that the token now aims for the $0.000035 price levels but needs an influx of capital to complete the movement.