Shiba Saga (SHIA) Bulls Ahead with 26% Gain
If you’ve been following Shiba Saga (SHIA), you’ll be glad to know that it has experienced a bullish trend, with a 26% gain in the last 24 hours. This marks a significant rise in volatility, as the token dropped by 48% in the past week.
However, despite these recent gains, SHIA still has a long way to go before reaching a new all-time high. Currently, it is down by 62% from its ATH of $0.785, which was achieved on August 26.
Over the past 24 hours, SHIA has been experiencing high volatility, with trading prices ranging between $0.211 and $0.301.
SHIA Continues to Impress with 26% Gain
If you’re wondering why SHIA has been performing so well, it’s because of the increasing buying pressure. According to DexTools.io, SHIA has had trading volumes of $3.4 million in the last day.
As a fairly new token, SHIA has been subject to volatile price movements. Just a few days ago, on August 24, it was trading at around $0.20. However, it quickly rallied and reached $0.785 on August 26.
Since then, SHIA experienced a correction and saw a decline in price throughout the rest of August. However, the recent double-digit gains suggest that the low price might be attracting more buyers.
Buyers Are the Key to SHIA’s Gains
One reason for SHIA’s impressive gains is the massive buying momentum indicated by the Relative Strength Index (RSI). The RSI line is pointing upwards, suggesting that buyers will continue driving the price action.
The RSI is currently at 64, leaving room for more gains. If this continues, SHIA could potentially rally to $0.5.
Additionally, the presence of bulls in the market is evident from the large volumes shown by the Awesome Oscillator’s histogram bars.
Shiba Saga Gains Interest
Shiba Saga is a memecoin that has been gaining attention lately, and the team behind it is actively working to bring it closer to a wider community. Crypto market analysts on X (formerly Twitter) have called for more gains, citing the token’s growth potential and dedicated team.
Furthermore, Shiba Saga has invested in marketing efforts, including putting up a billboard near SpaceX. This strategic placement aims to attract the attention of the memecoin community, as SpaceX CEO Elon Musk is a known supporter of Dogecoin.
Hot Take
While SHIA’s recent gains are impressive, it’s important to approach memecoins with caution. The volatility and speculative nature of these tokens can lead to significant price fluctuations. If you choose to invest in SHIA or any other memecoin, make sure to do thorough research and consider the risks involved.
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