Biggest Movers: SHIB Surges to 3-Month High to Start the Weekend
Shiba inu
was a notable gainer during Saturday’s session, as the meme coin climbed to a three-month high. The move comes as traders continue to react to
Binance’s decision to approve the coin as a collateral asset, in addition to the upcoming launch of Shibarium.
Dogecoin also snapped its recent losing streak today.
Shiba inu (SHIB) jumped to a three-month high on Saturday, with prices surging by as much
as 10%. Following a low of
$0.000008551 on
Friday,
SHIB/USD surged to a peak of
$0.000009509 earlier in today’s session. This resulted in the meme coin climbing to its strongest point since
May 6, when price reached a high of
$0.00001007.
Looking at the chart, the move comes as the
14-day relative strength index (RSI) moved past a resistance level of
67.00. At the time of writing, the index is tracking at
73.62, which is its highest level since
February.
Should momentum continue
throughout the weekend, the next target for bulls is likely to be a ceiling at
$0.00001025. In addition to
SHIB,
dogecoin (DOGE) also rose higher today, snapping a three-day losing streak in the process.
DOGE/USD rallied to a high at $0.07628, less than 24 hours after the meme coin was at a low
of $0.07279. As a result of this surge in price,
DOGE is now trading at its highest point since Wednesday, after breaking out of a resistance zone of
$0.0760.
This coincided with the
RSI moving past its own ceiling at the 5
2.00 mark. It is currently at a reading of
55.84. Despite today’s rally, dogecoin is still trading nearly
3% lower than at the same point last weekend.
