Shiba Inu Price Reverses Three-Day Decline with 4.80% Increase

Shiba Inu, a popular meme-based cryptocurrency, has experienced a significant price reversal in the last 24 hours. According to data from CoinGlass, the cryptocurrency's spot flow has shown a negative netflow change of 129%, indicating potential buying pressure or accumulation.

The price movement is in contrast to the three-day decline that Shiba Inu had been experiencing from February 17th to 19th. During this period, the cryptocurrency's price fell to $0.00000612 before reversing and rising to an intraday high of $0.00000662 on Saturday.

The increase in open interest by nearly 8% to $78.79 million suggests that derivatives or leverage may be driving the price movement. However, this can also indicate potential buying pressure or accumulation.

A sideways trading pattern is expected to continue before a breakout or breakdown. The daily RSI indicates that the cryptocurrency's price may continue to trade between $0.00000508 and $0.00000724. Support levels are expected at $0.0000061, $0.00000575, and $0.00000508.