• Solana (SOL) surged by as much as 30%, setting a fresh multi-month high
• Shiba Inu (SHIB) was trading at its strongest point since November, up 10% today
• Cryptocurrency markets were significantly bullish to start the weekend, with the global market cap 8.28% higher as of writing
Cryptocurrency markets were feeling the bullish vibes to start the weekend, with the global market cap 8.28% higher as of writing. Two of the biggest movers were Solana (SOL) and Shiba Inu (SHIB), both of which hit multi-month and six-week highs respectively.
Solana (SOL) was the biggest mover, rallying by as much as 30% on Saturday. Following a low of $16.52 yesterday, SOL/USD surged to an intraday high of $22.37 earlier today. This marked the token’s strongest point since November 9, when price was at a top of $24.60. The move came after the 14-day relative strength (RSI) index moved above a ceiling at the 80.00 level, and is now tracking at 85.44. It remains to be seen whether or not the current rally will continue, or if it will cool off as the day matures.
Shiba Inu (SHIB) was another notable gainer in crypto markets, as the meme coin rose by over 10% today. SHIB/USD hit a peak of $0.00001081 to start the weekend, after ending the working week at a low of $0.000009462. This resulted in prices climbing to their highest level since early November. Overall, Shiba Inu has now risen for a third consecutive session, and is up 24% in the last seven days. It appears that the earlier gains have already begun to show signs of easing, with price now trading at $0.00001039. This comes after the RSI failed to break out of its long-term resistance point at the 80.00 mark.
The weekend is still young, and it will be interesting to see if the bullish sentiment in cryptocurrency markets persists in the coming days.