In some textIn the past 24 hours, ICP's price has jumped by 18%, propelling it past Shiba Inu to become the 16th largest cryptocurrency by market cap. ICP's market cap now sits at $7.13 billion, according to CoinMarketCap.
The surge in price has been accompanied by a surge in trading volume, which has increased by 95% in the past 24 hours. Open interest in ICP futures contracts has also climbed, currently hovering around $99.2 million.
However, despite the recent bullish momentum, some analysts are warning that ICP's price may be due for a correction. The Relative Strength Index (RSI), a technical indicator used to gauge momentum, is currently hovering above 70, which is considered to be overbought territory. This suggests that ICP could be due for a pullback in the near future.
Overall, ICP's recent price surge is a positive sign for the Internet Computer blockchain. However, investors should be aware of the potential for a correction in the near future.