Shiba Inu jumps 12% and reclaims 13th position in the market
Shiba Inu price analysis for June 25, 2022, comes on a bullish note for the meme coin as we have seen the prices surge by more than 12% in the last 24 hours. It is important to note that in the last few days, we have seen the SHIB token drop to the 17th position in the crypto market and now, the bulls are back in charge and it has now reclaimed the 13th position in the crypto market. It seems that the token is just a few steps away from its rival meme coin, Dogecoin which has been able to retain its position as the biggest meme coin by market cap.
The data from CoinMarketCap shows that the trading volume for SHIB has surged by 38.84% in the last 24 hours, while the market cap of the token has surged by 12% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.1432, while the Market Dominance of the token rose to 0.66%.
The daily candle for Shiba Inu opened at a price of $0.00001083 and reached a daily high of $0.00001169. Moreover, the daily low for the token stands at a price of $0.00001071. The price of 1 SHIB at the time of writing is $0.00001152.
Shiba Inu price analysis on the daily chart for June 25
Shiba Inu price analysis for June 25, 2022, will take into consideration the data from the indicators integrated into the daily chart below.
Source: TradingView
The RSI indicator reads a value below 58 which means that the bulls are overall in control of the market and the gradient of the line suggests that higher prices are possible.
The MACD indicator shows that the MACD line remains above the signal line which means that investors can expect the meme coin to remain bullish.
The Shiba Inu price action broke into the bullish zone of the Bollinger Bands and a breakout from the bullish region can be expected.
Conclusion
Shiba Inu price analysis for June 25, 2022, ends on a bullish note for the SHIB token and we can expect SHIB to break above $0.000012.
