The post Shiba Inu Sees Sudden 10% Price Surge on Coinbase, What’s Going On? appeared on BitcoinEthereumNews.com. As seen on a TradingView chart, Shiba Inu suddenly saw a sharp price spike on the Coinbase crypto exchange, as its price swung from a low of $0.00001203 to reach $0.00001303. The price action has formed an intraday candlestick with a long upper wick, which suggests that Shiba Inu buyers pushed its price higher, but sellers eventually emerged, driving the price down subsequently. The price surge corresponds with a 169% surge in trading volumes for the SHIB/USD pair on Coinbase, according to recent CoinGlass data. Shiba Inu (SHIB) Daily Chart, Courtesy: TradingView/Coinbase Around the time of writing, Shiba Inu had retraced its gains in line with the broader market drop. Shiba Inu was recently trading at $0.00001238, up 1.51% in the last 24 hours, according to CoinMarketCap data. What happened? Shiba Inu saw a sharp drop on Friday, falling to a low of $0.00001199 after having traded at a high of $0.00001272 earlier. You Might Also Like On Saturday, Shiba Inu sharply rose from $0.000012, a level confirmed as support with multiple retests toward August’s close. For instance, Shiba Inu saw a sharp surge on Aug. 22 from the $0.000012 support, reaching $0.0000135 consequently. This trend repeated in today’s session, which saw SHIB rise again from $0.00001203 to reach $0.00001303, posting a large green daily candlestick. This corresponds with increased activity in the derivatives market, with volumes reaching $200.16 million. According to CoinGlass, the long short indicator for Shiba Inu is currently at 1.05, implying more buyers than sellers in the market, which might explain in a way the recent price move. Source: https://u.today/shiba-inu-sees-sudden-10-price-surge-on-coinbase-whats-going-onThe post Shiba Inu Sees Sudden 10% Price Surge on Coinbase, What’s Going On? appeared on BitcoinEthereumNews.com. As seen on a TradingView chart, Shiba Inu suddenly saw a sharp price spike on the Coinbase crypto exchange, as its price swung from a low of $0.00001203 to reach $0.00001303. The price action has formed an intraday candlestick with a long upper wick, which suggests that Shiba Inu buyers pushed its price higher, but sellers eventually emerged, driving the price down subsequently. The price surge corresponds with a 169% surge in trading volumes for the SHIB/USD pair on Coinbase, according to recent CoinGlass data. Shiba Inu (SHIB) Daily Chart, Courtesy: TradingView/Coinbase Around the time of writing, Shiba Inu had retraced its gains in line with the broader market drop. Shiba Inu was recently trading at $0.00001238, up 1.51% in the last 24 hours, according to CoinMarketCap data. What happened? Shiba Inu saw a sharp drop on Friday, falling to a low of $0.00001199 after having traded at a high of $0.00001272 earlier. You Might Also Like On Saturday, Shiba Inu sharply rose from $0.000012, a level confirmed as support with multiple retests toward August’s close. For instance, Shiba Inu saw a sharp surge on Aug. 22 from the $0.000012 support, reaching $0.0000135 consequently. This trend repeated in today’s session, which saw SHIB rise again from $0.00001203 to reach $0.00001303, posting a large green daily candlestick. This corresponds with increased activity in the derivatives market, with volumes reaching $200.16 million. According to CoinGlass, the long short indicator for Shiba Inu is currently at 1.05, implying more buyers than sellers in the market, which might explain in a way the recent price move. Source: https://u.today/shiba-inu-sees-sudden-10-price-surge-on-coinbase-whats-going-on