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Shiba Inu risks drop with SHIB’s 574% October’s price rally near exhaustion -Breaking

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(SHIB) may see a pullback by almost 25%–35% on fears that the cryptocurrency’s Price inflationA key indicator shows that October saw it become overvalued.

This indicator, known as the Relative Strength Index or (RSI), measures how strong an individual is. The magnitude of recent price fluctuations for an instrumentTo evaluate the instrument’s oversold or overbought status. You can expect a range of numbers between 0 to 100. A reading lower than 30 indicates that the instrument is oversold, and a reading higher than 70 indicates it’s overbought.

Daily price chart for SHIB/USDT showing divergence in the price between rising and falling RSI. TradingView
SHIB/USDT daily price chart featuring Fibonacci retracement levels. TradingView