Volatility in Shiba Inu’s (Shib) Dollar-denominated price has fallen while the token continues to lose ground against its peer, docoin .
Shib’s 90-day realized volatility has dropped to an annual 64%, the lowest since December 2023, according to data source trading. Realized volatility measures how much an asset price has actually fluctuated over a certain past period. In other words, it quantifies the price fluctuations that have already happened, giving an overview of the historical award turbulence.
Since May, Cryptocurrency has entered a narrowing press range, characterized by converting trend lines connecting lower heights and higher low. The direction where the range eventually solves is likely to set the tone for the next big move.
Over the last 24 hours, Shib’s dollar-denomined price has achieved over 2%. According to Coindesk Analytics, the token achieved a remarkable technical breakthrough that reached an intraday top of $ 0.000013584 at. 22:00 on September 17, supported by extraordinary trading volumes of 2.08 trillion tokens.
Remarkably materialized critical resistance around $ 0.000013584 threshold, with the price action returning in the middle of increased volume, while robust support established near $ 0.000012882, which defined a trading corridor of $ 0.000007020 or 5%.
In the middle of this, the whale activity was intensified, with over 7 trillion tokens moving on-chain on Saturday, including 512 billion shib transferred from Kraken to non-revealed addresses.
Key technical insights
- Price Parameters: The token traded between $ 0.000012882 support and $ 0.000013584 resistance, establishing a $ 0.000007020 trade area representing 5% volatility.
- Volume assessment: Unique volume wave of 2.08 trillion tokens over 18:00 hours exceeded the 24-hour average of 533.5 billion tokens.
- Support and resistance levels: Robust support is materialized near $ 0.000012882, while key resistance occurred at $ 0.000013584 level when the price turned in the middle of increased volume.
- Consolidation Frame: The last hours demonstrated tight consolidation between $ 0.000013323 and $ 0.000013373, suggesting potential accumulation prior to the next direction movement.
- Volume properties: Increased activity during resistance testing with a 7.55 billion token wave at. 11:40, followed by a diminished volume of 187 million tokens in the final minutes.
Shib on record lave toward DODE
The Binance-Listed Shib-Doge couple, representing Shib’s price compared to DOGE, has dropped to 0.0000472, the lowest since the exchange noted the couple in November 2021.
The couple recently dived out of a sideways pattern that marks a continuation of the long -term downward downtrend from March 2024 heights. The outlook for Shib in relation to DOGE remains bearish while the descendant remains intact.
