{"id":178894,"date":"2023-10-22T11:41:40","date_gmt":"2023-10-22T06:11:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=178894"},"modified":"2023-10-22T11:41:40","modified_gmt":"2023-10-22T06:11:40","slug":"how-shiba-inus-short-term-recovery-might-translate-to-long-term-gains-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/how-shiba-inus-short-term-recovery-might-translate-to-long-term-gains-crypto-news\/","title":{"rendered":"How Shiba Inu&#8217;s short-term recovery might translate to long-term gains &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>Shiba Inu continued its decent short-term recovery, as it hit the $0.000007 price level<\/em><\/li>\n<li><em>Selling pressure persisted, but bullish conviction remained strong<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/SHIB\" data-wpel-link=\"internal\">Shiba Inu [SHIB]<\/a> continued its gentle recovery from the $0.000006 price zone. Memecoins have seen low interest in recent times and this has been reflected in low trading volumes for Shiba Inu since early September.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Realistic or not,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">here\u2019s SHIB\u2019s market cap in BTC<\/a>\u00a0terms<\/p>\n<hr \/>\n<p>AMBCrypto\u2019s previous <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/shiba-inu-shows-possibility-for-short-term-recovery-can-buyers-rally\/\" data-wpel-link=\"internal\">analysis<\/a> on 15 October highlighted the possibility of a recovery for SHIB, based on the price action. This projection was validated with the memecoin posting a series of bullish candles on the lower timeframes.<\/p>\n<p>With <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> leading the bullish charge over the past week, SHIB traders could turn the short-term recovery into a long-term bullish move.<\/p>\n<h3><strong>Buyers show good bullish signs, but need more momentum<\/strong><\/h3>\n<div id=\"attachment_352681\" style=\"width: 1883px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIBUSDT_2023-10-21_11-27-04.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-352681\" class=\"wp-image-352681 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIBUSDT_2023-10-21_11-27-04.png\" alt=\"Shiba Inu SHIB price chart\" width=\"1873\" height=\"1052\" \/><\/a><\/p>\n<p id=\"caption-attachment-352681\" class=\"wp-caption-text\">Source: SHIB\/USDT on Trading View<\/p>\n<\/div>\n<p>The daily timeframe underlined the growing bullish recovery with three bullish candles in a row. This was reflected by the Relative Strength Index (RSI) hitting the neutral-50 to suggest an equilibrium between buying and selling pressure.<\/p>\n<p>Furthermore, the stability of the daily trading volume, as shown by the On Balance Volume (OBV), was good news for buyers. However, a sustained long-term bullish rally would need the trading volume to rise significantly.<\/p>\n<p>With the price trading at $0.000007 as of press time, buyers can look to scale the $0.0000075 hurdle on the higher timeframes. This would be a bullish breaker of the previous lower low and could see Shiba Inu easily hit the $0.00000807 resistance.<\/p>\n<p>However, strong capital outflows could be a mitigating factor. The Chaikin Money Flow (CMF) stayed in negative territory with a reading of -0.11. This is a sign that SHIB investors are not actively willing to back a long-term bullish run yet.<\/p>\n<h3><strong>Buyers need to be wary of short positions<\/strong><\/h3>\n<div id=\"attachment_352683\" style=\"width: 1027px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIB_long_short.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-352683\" class=\"wp-image-352683 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1017\" height=\"475\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIB_long_short.jpg 1017w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIB_long_short-300x140.jpg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIB_long_short-768x359.jpg 768w\" data-lazy-sizes=\"(max-width: 1017px) 100vw, 1017px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIB_long_short.jpg\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-352683\" class=\"wp-image-352683 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SHIB_long_short.jpg\" alt=\"\" width=\"1017\" height=\"475\" \/><\/a><\/p>\n<p id=\"caption-attachment-352683\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LongShortRatio\" data-wpel-link=\"external\">Coinglass<\/a><\/p>\n<\/div>\n<p>Due to strong capital outflows, sellers continued to hike their short positions in anticipation of another price drop. Also, the exchange long\/short ratio revealed that shorts were in the lead as of the time of writing, with a 51.53% share of the open contracts.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\" data-wpel-link=\"internal\">Shiba Inu\u2019s [SHIB] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p>And yet, the $360k difference between shorts and longs highlighted a slim margin. This suggests that extra bullishness in the market could quickly hand buyers the advantage, resulting in a further advancement for the market\u2019s bulls.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. Shiba Inu continued its decent short-term recovery, as it hit the $0.000007 price level Selling pressure persisted, but bullish conviction remained strong Shiba Inu [SHIB] continued its gentle recovery from the $0.000006 price zone. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":178895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-178894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=178894"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178894\/revisions"}],"predecessor-version":[{"id":178897,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178894\/revisions\/178897"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/178895"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=178894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=178894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=178894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}