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Today, November 28, is Thanksgiving in the United States, which means the country’s financial markets are closed. For the cryptocurrency market, this means that there is no activity from traditional market participants, especially in the area of Bitcoin ETFs and Ethereum ETFs.
In all likelihood, this means that the cryptocurrency market will not be subject to pressure from major players who could have exerted pressure via such instruments, meaning that cryptocurrencies such as Shiba Inu (SHIB) will trade today in a sort of vacuum.
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As you can see from the price chart of the popular meme cryptocurrency, today, during the holidays, the price of the token has so far seen a kind of multidirectional movement, finding support at an important level around of $0.000025 per dollar. SHIB.
At the same time, we can see that this support was found after a spill followed by a buyback, which formed a long hairpin on the hourly price chart of the token.
So, from the local floor at $0.0000234, the SHIB price increased by 12.5% and then corrected by 3%, arriving at the point where it is currently. In this case, we obtain a classic correction, considered healthy and important for a new rise.
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Given the optimistic attitude of crypto market participants and the enthusiasm of the SHIB community, we can assume that in the absence of external pressure, this Thanksgiving will give the popular meme cryptocurrency a chance to continue his rally.