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Shiba inu was one of the biggest gainers on Friday, surging to a six- high. The move comes as global cryptocurrency market capitalization soars as U.S. inflationary pressures continue to cool. Classic is also in the green, with prices hitting two-month highs.

Shiba Inu (SHIB)

Shiba inu (SHIB) was one of the notable movers on Friday, as the meme coin rose to a six-week high.

SHIB/USD surged to an intraday high of $0.000009711 earlier today, following Thursday’s low of $0.000009227.

As a result of today’s surge, the memecoin hit its highest point since Dec. 5, when it traded as high as $0.00006.

Looking at the chart, the move came as shiba inu broke above the upper bound of the $0.00000945 mark.

Biggest movers: SHIB hits 6-week high, ETC extends recent gains
SHIB/USD – daily chart

Besides that, the 14-day relative strength index (RSI) broke its own upper limit of 68.00.

As of writing, the index is tracking 71.74, which is in overbought territory.

Classic (ETC)

Classic (ETC) was another big winner in today’s session, with prices near two-month highs.

ETC/USD rose to a high of $21.76 earlier in the day, less than 24 hours from bottoming at $20.02.

The move pushed the token to its highest level since Nov. 10, when ETC hit at $23.00.

Biggest movers: SHIB hits 6-week high, ETC extends recent gains

As can be seen from the chart, it appears that the bulls are attempting to bring Classic back to this point if the recent bullish momentum holds.

This could be made difficult by RSI at 67.00, which has remained unbroken since last August.

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Do you expect Classic to touch $23.00 in the next few days? Let us know your thoughts in the comments.


Elliman Dambell

Eliman brings an eclectic perspective to market analysis. He was previously a brokerage director and online trading educator. Currently, he serves as a commentator on various asset classes, including cryptocurrencies, equities, and forex, as well as a startup founder.

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By Rebecca French

Rebecca French writes books about Technology and smartwatches. Her books have received starred reviews in Technology Shout, Publishers Weekly, Library Journal, and Booklist. She is a New York Times and a USA Today Bestseller...