Shiba Inu Price Runs into TD Sequential: Here’s What It Does
- Canine coin Shiba Inu storms past key resistance in a 10% daily run.
- OG crypto trader Ali Martinez explains Shiba Inu’s TD Sequential.
- Shibarium L2 mainnet saw a major upswing on October 25th, 2023.
Veteran crypto trader Ali Martinez pointed to a flashing bullish signal for Shiba Inu’s price in the weekly charts. The signal, called the TD (Tom Demark) Sequential, is utilized by crypto traders to identify the end of a trend and the beginning of the asset’s price reversal, according to the crypto analyst. Shiba Inu’s price flashed a nine-candle count graphic called the TD Setup.
The counter-trend tool had previously been the catalyst for Shiba Inu’s 118% and 71% bull runs. Equipped with the price reversal triggering TD Sequential, the popular cryptocurrency SHIB scorched past the $0.000008 resistance to reach a new monthly high of $0.00000817.
Tsunami of Transactions on Shibarium L2
Meanwhile, the newcomer Layer-2 scaling solution Shibarium is reaping the benefits of an upsurge in daily transactions. Shibarium saw a colossal increase from 12.69K to 62.57K on October 25, 2023. Despite the surge in daily transactions, Shiba Inu’s blockchain continues to operate at a five-second average block production time, according to ShibariumScan.io.
Shiba Inu’s Layer-2 network grew by 16.67% in total value locked (TVL), as more projects are being welcomed to Shibarium L2 via the assistance of the Bad Idea AI (BAD) chatbot on the Shibarium Tech Telegram channel. Currently, Shibarium L2 mainnet encompasses $869,641, with MARSWAP dominating the DeFi with 45.26% of the total TVL , according to DefiLlama.
The positive shift has tackled the prices of all alternative tokens in the Shiba Inu Ecosystem , including the Shibarium L2 gas token Bone ShibaSwap (BONE). BONE soared by 10.3% to briefly reclaim long-term support at $0.80 but dropped below to trade at $0.791441, according to CoinGecko.
The Fibonacci Circles mark a possible price correction bottom for $BONE at $0.7783; failing to sustain that level could result in a full retracement of BONE’s 10.3% run. While Shiba Inu fetched some of the latest gains following the BlackRock BTC ETF progress, $BONE stands at a -0.11 negative price correlation with the leading digital asset.
On The Flipside
- SHIB couldn’t hold the key resistance barrier at $0.000008 and slid to $0.00000793 on a market correction.
- The latest daily bull run for Shiba Inu softens the canine coin’s yearly deficit to 23.7%.
Why This Matters
Technical cryptocurrency price analysis tools help understand long-term price performance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bernstein sets $200,000 Bitcoin target for 2025, unaffected by U.S. election results
Share link:In this post: Bernstein predicts Bitcoin will reach $200,000 by the end of 2025. Key factors include the rise of debt in the United States and increased demand from spot ETFs. According to Bernstein, if Trump is to win, then Bitcoin may rise to between $80,000, and if Harris wins, Bitcoin may drop to $50,000.
South Koreans pay 2.2% higher prices for Bitcoin as FOMO kicks in
Share link:In this post: As FOMO kicks in, Bitcoin holders in South Korea spend 2.2% more on purchases. The ‘Kimchi Premium’ was negative between Oct. 12 and Oct. 20 as Bitcoin traded below the global market average in South Korea. In 2024, the South Korean Won was the second largest fiat currency in Bitcoin, trading at 3.99% after the U.S. dollar, which was at 17.75%.
Michigan becomes first state pension fund to invest in Ethereum ETFs with $11M stake
Bitcoin Markets Brace for US Election Volatility: Bitfinex Report