The past three days have been one of the most volatile trading sessions for Shping. On Sunday, Shopping price rose by 57 per cent. This was followed by yesterday’s strong and aggressive bullish move that saw the crypto close the markets with a gain of 64 per cent. At some point, the prices had risen by as much as 130 per cent during the session.
However, during the late hours of the trading session, the trend started to reverse. The late hours’ push saw Shping prices drop by 29 per cent. In today’s trading session, the strong bearish push that we saw during yesterday’s session is in full force, with prices dropping by 23 per cent. The trading session also looks likely to continue with the current aggressive bearish trend throughout the session.
What is Happening with Shping Prices?
The current volatility in the market caught many by surprise. Looking at the news cycle, there appear to be no headlines directly connected to the crypto that could result in such a huge spike. The current volatility also appears to have started after a day after the crypto failed to make a gain of a percentage point in the market.
However, looking at the trading volume for the past few days, there is a growing trend that is showing more investors’ money being poured into the project. In the past 24 hours, the trading volume of the cryptocurrency has risen by 155 per cent. The same trend has been observed for the past three days when the trading volume suddenly jumped.
Therefore, my analysis of the sudden rise of the cryptocurrency is likely that the project has gained whales, which is driving the prices up. There is also a high likelihood that new investors may have come in after the first jump and pushed the prices even higher.
Shping Price Prediction
The current volatility in Shping price is likely due to whales investing in the project. Since there appear to be no fundamentals, except for the sudden surge in the trading volume, may analysis predicts that the current move to the downside will continue.
Part of the reason I expect the prices to continue going downwards is that investors who bought when Shping price was going up will be looking to sell their assets. The result is a sell-off marathon that has triggered what we are seeing right now. The sell-off will likely continue until the prices hit the $0.0063, which is near the previous levels before the spike. However, my trade analysis will be invalidated if the prices trade above today’s opening price of $0.017.
Shping Daily Chart
