Shiba Inu (SHIB) Forms Important Signal After 20% Rise

Explosive performance of $SHIB is a great sign of market recovery, but the RSI divergence is the last thing you would want to see

. The digital asset has gained 20% in value over the past seven days, riding the wave of the general cryptocurrency market recovery that began in January.

While the recent price surge of Shiba Inu is certainly noteworthy, a closer look at the asset's price performance reveals an interesting formation of bearish divergence between the Shiba Inu price and the Relative Strength Index . RSI divergence is a crucial technical analysis tool used to determine the strength of an asset's price trend.

In a typical bullish scenario, an asset's price and RSI move in tandem, indicating a strong price trend. However, when the price of an asset continues to rise while the RSI starts to fall, it suggests that the price trend may be losing momentum, and that a potential price reversal could be on the horizon.It is also worth noting that Shiba Inu's burn rate, which refers to the rate at which tokens are removed from circulation, has not changed dramatically following the price surge.

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