Biggest Movers: Meme Coins Move Lower, With SHIB Declining by 10%

Meme coins moved lower on Jan. 19, as cryptocurrency markets plunged following recent highs. Shiba inu, which rose to a nine-week high on Wednesday, fell by nearly 10% today. Markets have been largely overbought in the past few days, with bears seemingly reentering. Dogecoin was also in the red today.

Timeline of Shiba-inu

Shiba Inu price appears to have taken a breather after a consistent push by bulls for slightly over two weeks. This pressure is not unique to SHIB, as Bitcoin price is down 2.2% in 24 hours to trade at $20,796, while Ethereum price is exchanging hands at $1,527 after sliding 3.3%. The most popular meme coin, DOGE is also in the red and trading at $0.081 after a 5.5% correction in 24 hours.

Shiba Inu (SHIB) price rally backed by the Shibarium update and Ethereum (ETH) whales buying saw a decline on Thursday. World's second largest meme crypto's price dropped by over 9% in the last 24 hours.

Shiba inu surged to a multi-month high on Wednesday, as the meme coin collided with a key price ceiling. Prices rose by as much as 17% in today's session, as the global cryptocurrency market cap also trended higher.

Shiba Inu has surpassed its previous barriers with a massive 20% price surge in the last 24 hours. Although SHIB's price has been on a steady rise since January, this latest rally was a rather unforeseen performance.

Shiba Inu had a fantastic week so far, managing to book a double-digit price increase. Key Support levels: $0.000010 Key Resistance levels: $0.000014 After a successful breakout above $0.000010, SHIB quickly turned this level into support and then rallied hard.

Shiba Inu (SHIB) is experiencing a surge in value, with a 15.2% increase over the last 24 hours and 31.2% over the past seven days. The post What's Behind Shiba Inu (SHIB) 30% Bull Rally appeared first on BeInCrypto.

The formation of a rounding bottom pattern fuels the underline growth of bullish momentum for the Shiba Inu coin. Under the influence of this pattern and a recovery sentimental the market, the SHIB  price rebounded from the $0.000008 support and surged 58% higher to its current price of $0.00000125.

Shiba Inu (SHIB) price rallied over 20%, with the price hitting a high of $0.00001289 on Wednesday. The catalyst for the pump is the most anticipated launch of the Shibarium Layer-2 blockchain.

Shiba Inu has substantially recovered over the last week; it surged over 20% in the same timeframe. Over the last 24 hours, SHIB has appreciated by 2.9%, but despite the rise in value, the coin has remained stuck below the $0.000011 mark.

Curve DAO Token (CRV) flips Shiba Inu (SHIB) to become the most traded token among the top Ethereum whales. Shiba Inu occupied the top position among whales in the last few weeks due to the anticipated launch of the Shibarium Layer-2 blockchain solution.