Cryptocurrency on the theme of dogs Shiba Inu (Shib) has recovered a higher place in the classification of cryptography, exceeding Toncoin (ton) in market capitalization because its price shows the first signs of a potential rebound.
With a market capitalization of $ 9.68 billion, Shiba Inu overthrew Toncoin, obtaining 15th place among the best cryptocurrencies, according to CoinMarketCap data. Toncoin (tone), the native cryptocurrency of the open network, with a market capitalization of $ 9.24 billion, is now classified as the 16th largest cryptocurrency, a Shiba Inu spot previously held.
The change in the ranking occurs while Shib begins to bounce in relation to the drop in recent prices. At the time of writing the editorial staff, Shibal was traded by 3.56% in the last 24 hours to 0.00001582, extending its recovery from the stockings of $ 0.00001462 of February 7.
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The prices increased to stimulate the market capitalization of Shib, pushing it before Toncoin, which had previously taken the lead. Toncoin (tone) fell 0.75% in the last 24 hours to $ 3.70 and down 5.45% per week.
Shiba Inu shows the first signs of rebound
Shiba Inu dropped to a minimum of $ 0.0000,154 during yesterday’s session, the markets that responded to warmer than expected inflation data, which showed that the consumer price index of January increasing 0, 5% for the month and 3% compared to the previous year. The figures were higher than the expectations of experts by 0.3% and 2.9%, which reduces the probability of a rate drop by the American federal reserve. However, the reverse price of the price, Shiba Inu, reaching peaks of $ 0.00001734 before retiring slightly.
In a previous tweet this week, the Crypto Ali analyst noted that Shiba Inu could show signs of a potential rebound because the sequential TD indicator flashes a purchase signal on the weekly graphic. After four consecutive weeks of decline, Shiba Inu struck stockings 0.0000116 on February 3 and turned into the green. The rebound maintains this week, with Shib up 4.72% weekly, according to tradingView Data.
For the shib to keep its momentum upwards, it will have to cross key resistance levels – in this case, the Daily SMA 50 and 200 to 0.0000199 $ and 0.0000192, respectively – and maintain a strong purchase of purchase . In addition, a broader market recovery could further increase the price of Shib.