Shiba inu (SHIB) is up over 50% as of writing, with cryptocurrency markets persevering with to achieve momentum to start out the week. The so-called ‘meme coin’ rally has seen SHIB recapture a $16 billion market capitalization.
Greatest gainers
On Monday, bitcoin (BTC) and ethereum (ETH) each reached multi-week highs, with DOGE and XRP additionally buying and selling over 10% greater, nevertheless, none of those got here near right now’s massive gainer.
Shiba inu (SHIB) was right now’s bull of the day, and was up by 48% as of writing, hitting an intraday excessive of $0.00003484 within the course of.
Within the final 24-hours, shiba Inu has risen by over 70%, following its breakout of resistance at $0.00002332.
At present’s transfer has led to the 14-day RSI climbing by its most since October 29, when $SHIB traded at a now ATH of $0.00008894.
As seen from the chart, costs now commerce marginally over resistance of $0.00003374, which has been in value for everything of 2022 up to now.
Value presently tracks above the overbought threshold, nevertheless, many late entrants are positive to nonetheless enter the race.
Greatest losers
Following nearly 5-days of bullish stress, crypto bears have considerably been in hiding, and that continued on Monday.
At present’s greatest loser was LEO, which as of writing, is down round 2.60%, and comes as merchants seem like caching out on final weeks’ income.
UNUS SED LEO has gained by as a lot as 40% in worth over the past 7-days, and with its 14-day RSI monitoring at 69.44, markets appear to have deemed this as being overbought.
Following its rally to a now all-time excessive of $5.44, LEO started to consolidate, and now appears to have discovered a short-term ceiling at $5.22.
Will the revenue takers proceed to liquidate their positions? Tell us your ideas within the feedback.
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