According to U.Today, the U.S. financial markets are closed today, November 28, in observance of Thanksgiving Day. This closure means that traditional market participants are not active in the cryptocurrency market, particularly in Bitcoin and Ethereum ETFs. As a result, cryptocurrencies like Shiba Inu (SHIB) are trading without the influence of major players who might otherwise exert pressure through these financial instruments.
On this holiday, the price of SHIB has shown a multidirectional movement, finding support at a significant level around $0.000025. This support emerged after a price dip followed by a recovery, forming a long hairpin on the hourly price chart. From a local low of $0.0000234, SHIB's price increased by 12.5% before correcting by 3%, settling at its current level. This pattern is considered a textbook correction, which is deemed healthy and necessary for a potential further upward trend.
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