Shiba Inu and Apecoin Rally to Five-Week Highs

• Shiba Inu (SHIB) moved to a five-week high during Tuesday’s session, despite cryptocurrency markets mostly consolidating.
• Apecoin (APE) was another big mover in today’s session, extending recent gains to a fifth consecutive day.
• As a result of these moves, both coins are now trading at their strongest points since November 5.

Cryptocurrency markets saw mostly consolidation on Tuesday, as the global crypto market cap traded 0.20% lower. However, two coins stood out from the crowd and rose significantly – Shiba Inu (SHIB) and Apecoin (APE).

Shiba Inu rose to a five-week high during the session, trading at its highest point since December 5. The rally came following an upwards crossover of the 10-day (red) and 25-day (blue) moving averages. In addition, the 14-day relative strength index (RSI) rose above a recent ceiling at 65.50 and is currently tracking at 67.50, with the next visible ceiling at the 73.00 zone.

Apecoin was another big mover in today’s session, extending recent gains to a fifth consecutive day. Prices of the token rose from a low of $4.50 to an intraday peak of $4.98 earlier in the day, pushing apecoin to its highest level since November 5. This came following a breakout of a price ceiling at $4.60. As a result of the move, the RSI on the APE chart is now at its strongest point on record, with a reading of 79.09 and prices deep in overbought territory.

Overall, these moves demonstrate that despite a sideways market, investors are still confident in the future of these two coins. Shiba Inu and Apecoin are now trading at their strongest points since November 5, indicating that bullish sentiment is still present in the market.