Crypto Market Analysis: Why Shiba INU(SHIB) is Going Up Today? 

The crypto markets continue to trade under a bullish influence despite another bankruptcy struck-in. Bitcoin price continues to trade close to the crucial levels around $21,000 and hence the other major altcoins also appear to have withstood the turbulence. Interestingly, Shiba INU prices continue to trade above the gained levels of around $0.

Timeline of Shiba-inu

An anonymous wallet has burned 10 million Shiba Inu (CRYPTO: SHIB) in one transaction. What Happened:  Over 12.94 million SHIB has been eliminated through ten multiple transactions in the last 24 hours, according to Shibburn.com.

The price of the dog-themed crypto asset Shiba Inu (SHIB) is rallying after developers announced the upcoming launch of the ecosystem's layer-2 network, but many traders are still in the red. SHIB is up by 37.

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.

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.