finbold.com
Despite a brief bullish rally activated by the news that the crypto trading platform Binance had staked 4 trillion SHIB using ShibaSwap, Shiba Inu has failed to retain its momentum after new information came to light that the crypto exchange had actually un-staked nearly 13 trillion tokens beforehand.
Originally, Shiba Inu had soared to $0.000009593, up more than 17% from the weekly low of $0.000008173, after the news about Binance staking 4 trillion of the dog meme coin was shared by the Twitter profile of the SHIB burn tracking platform Shibburn on January 10.
At the moment, the sentiment around SHIB on the 1-day gauges is in the ‘neutral’ zone, the result of the oscillators indicating ‘sell’ at 3 (as opposed to ‘buy’ at 1) and moving averages (MA) pointing toward ‘buy’ at 9 (compared to ‘sell’ at 5), as per the latest TradingView data.
Elsewhere, on January 9, Finbold reported on Shiba Inu topping the list of the most popular cryptocurrencies as it ranked first on the trending list of the crypto tracking platform CoinMarketCap, followed by Bitcoin (BTC) and Polygon (MATIC). At press time, Bitcoin has unseated SHIB, which now ranks second by this indicator.
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