Shiba inu (SHIB) is up over 50% as of writing, with cryptocurrency markets continuing to gain momentum to start the week. The so-called ‘meme coin’ rally has seen SHIB recapture a $16 billion market capitalization.
The biggest winners
On Monday, bitcoin (BTC) and ethereum (ETH) both hit multi-week highs, with DOGE and XRP also trading more than 10% higher, however, neither of those came close. of today’s big winner.
Shiba inu (SHIB) was today’s bull of the day, and was up by 48% as of writing, hitting an intraday high of $0.00003484 in the process.
In the past 24 hours, the Shiba Inu is up over 70%, following its break of resistance at $0.00002332.
Today’s move has led to the 14-day RSI climbing by its most since October 29, when $SHIB traded at a now ATH of $0.00008894.
As the chart shows, prices are now trading slightly above the resistance at $0.00003374, which has been in price for the entirety of 2022 so far.
Price currently tracks above the overbought threshold, however, many late entrants are sure to still enter the race.
The biggest losers
After nearly 5 days of bullish pressure, crypto bears went into hiding somewhat, and it continued on Monday.
Today’s biggest loser was LEO, which as of writing, is down around 2.60%, and comes as traders appear to be caching out on last weeks’ profits.
UNUS SED LEO has gained up to 40% in value over the past 7 days, and with its 14-day RSI trail at 69.44, markets appear to have viewed this as overbought.
Following its rally to a now all-time high of $5.44, LEO began to consolidate, and now seems to have found a short-term ceiling at $5.22.
