Shiba Inu Displays Surprising Price Movement – Can SHIB Ditch The Flatline?
Shiba Inu (SHIB) is full of surprises up its sleeve. The top dog meme coin’s latest price rally was impressive as the coin was able to showcase the lowest level of daily volatility as seen in the entire crypto trading history.
As of this writing, SHIB is up by 2.66% or at $0.00001217.
According to the daily chart, SHIB has been consistently darting on a straight line seen in the past few days. In fact, the dog meme coin’s price hasn’t moved a bit for a straight week, which is bizarre especially for a volatile asset such as SHIB.
It’s uncertain why Shiba Inu has been showing a flatline or sluggishness in performance – but there are some talks coming from investors and traders that the volatility issues of SHIB seems to have cropped up from the decline in the burn rates of the token, which is said to have been fueled by previous Shiba Inu projects lke Shibarium Multiverse.
On June 21, SHIB penetrated the descending channel as it rolls down which could have signaled a coin reversal. However, the discrepancy in trading inflows and volume prompted SHIB to roll back to $0.00001.