SHIB hits 6-week high as SOL extends recent gains

Solana surged 30% on Saturday, setting a new multi-month high in the process. The move comes as cryptocurrency markets were markedly bullish to start the weekend, with the global market cap up 8.28% at the time of writing. The Shiba Inu traded at its strongest point since November.


Solana (SOL) was easily one of the biggest moves at the start of the weekend, with prices rising as much as 30%. After a low of $16.52 yesterday, SOL/USD hit an intraday high of $22.37 earlier today.

After today’s rally, the token hit its strongest point since November 9, when the price hit a high of $24.60.

On the chart, the move started after a further breakout of a 14-day relative strength (RSI) resistance point. On this occasion, the index exceeded a ceiling at the level of 80.00 and is now at 85.44.

Although Solana bulls have their eyes on $25.00, there could be some cooling from the previous rally as the day progresses.

shiba inus

Shiba inu (SHIB) was once again a notable winner in the crypto markets as the meme currency surged over 10% today. SHIB hit a high of $0.00001081 to start the weekend, after ending the work week at a low of $0.000009462.

As with the solana above, this allowed prices to climb to their highest level since early November.

Biggest move: SHIB hits 6-week high, while SOL extends recent gains.

Overall, shiba inu is now up for a third session in a row, gaining 24% over the past seven days. Previous gains have already started to show signs of weakening, with the price now trading at $0.00001039.

This comes after the RSI failed to break above its long-term resistance point at the 80.00 mark.

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