Shiba Inu becomes popularity as prices surge 7% in 24 hours

Shiba Inu price analysis for March 28, 2022, confirms that the meme coin has turned bullish following a huge surge in buying volume and chances are that we might see SHIB at higher prices in the coming days. It is also important to note that as per our SHIB price analysis for March 25, the nearest resistance for the token stands in the $0.000025 price zone which the token needs to reclaim in order to confirm an uptrend. 

The data from CoinMarketCap shows that the trading volume for SHIB has surged 125.59% in the last 24 hours, while the market cap of the token has jumped by 7.40% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.08039, while the Market Dominance of the token rose to 0.69%. 

The daily candle for Shiba Inu opened at a price of $0.00002557 and reached a daily high of $0.00002695. Moreover, the daily low for the token stands at a price of $0.00002527. The price of 1 SHIB at the time of writing is $0.00002644. 

Shiba Inu price analysis on the daily chart for March 28

Shiba Inu price analysis for March 28 will take into account the readings from the following indicators that will be integrated into the daily chart as seen in the image below.

Source: TradingView

The RSI indicator shows a value of 61.33 which means that the buying pressure has surged and chances of Shiba Inu breaking the $0.000025 resistance are high.

Moreover, the MACD indicator shows that the MACD line is above the signal line which means that bulls are in control of the entire price action. 

The price action for the SHIB token now aims to break out of the upper end of the Bollinger Bands which means that higher prices will follow soon. 

Conclusion

Shiba Inu price analysis for March 28, 2022, confirms that the token will continue on its bullish path and soon break above $0.000025.