Shiba Inu (SHIB) Receives Thanksgiving Day Chance

Today, Nov. 28, is Thanksgiving Day in the U.S., which means the country’s financial markets are closed. For the cryptocurrency market, this means that there is no activity on the part of traditional market participants in the area of Bitcoin ETFs and Ethereum ETFs in particular

In all likelihood, this means that the crypto market will not be under pressure from the major players that could have exerted pressure through such instruments, which means that cryptocurrencies such as Shiba Inu (SHIB) will be traded in a kind of vacuum today

Related Thu, 11/28/2024 - 08:43 SHIB Burns Skyrocket 5,154%, Here’s What’s Happening HOT Stories Will Bitcoin Reach $100,000? Dogecoin Founder Shares Take $3 Billion Crypto Exchange XT Allegedly Hacked, According to PeckShield SHIB Burns Skyrocket 5,154%, Here’s What’s Happening Almost All Ripple USD Tokens Got Burned. Is Announcement Near?

As you can see on the price chart of the popular meme cryptocurrency, today, during the holiday, the price of the token has thus far experienced a kind of multidirectional movement, finding support at an important level around $0.000025 per SHIB

Source: TradingView

At the same time, we can see that this support was found after a spill followed by a buyout, which formed a long hairpin on the hourly price chart of the token

Thus, from the local bottom at $0.0000234, the price of SHIB rose by 12.5% and then corrected by 3%, coming to the place where it is now. In this case, we get a textbook correction, which is considered healthy and important for a further upward move

Related Wed, 11/27/2024 - 13:43 Shiba Inu (SHIB) Sees Worrying 712% Increase in Whale Sales

Given the bullish attitude of crypto market participants and the enthusiasm of the SHIB community, we can assume that in the absence of external pressure, this Thanksgiving will give the popular meme cryptocurrency a chance to continue its rally.