SHIB Volatility Analysis for CPI, 11th July 2024

Data Analysis

The data released by Bureau of Labor Statistics for Consumer Price Index on 11th July, 2024 has come in at a decrease to 0.0% for June 2024. Compared to the previous release for May 2024 at 0.2%, we can see that prices & inflation is still decreasing month over month.

To see the impact and volatility of SHIB's price during the CPI release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 242.053B SHIB with prices swinging between 0.000016 and 0.000017, representing a swing of 2.26%. Subsequently, the trading volume increased significantly by 215% to 763.023B SHIB. Price action ranged from a low of 0.000016 to a high of 0.000017, a significant difference of 4.64%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 38.94B SHIB in trading volume was observed prior to the data release. Prices ranged between a low of 0.000017 to a high of 0.000017, a 0.83% change. Immediately following, trading volume increased significantly by 438% to 209.448B SHIB. At this time, Shiba Inu hit a low of 0.000017 with a high of 0.000017, a significant change of 1.53%.

About Consumer Price Index

The Consumer Price Index (CPI) measures the monthly change in prices paid by U.S. consumers. The Bureau of Labor Statistics (BLS) calculates the CPI as a weighted average of prices for a basket of goods and services representative of aggregate U.S. consumer spending. The CPI is one of the most popular measures of inflation and deflation. The index is published monthly by the U.S. Bureau of Labor Statistics (BLS).