Shiba Inu Faces Decline to $0.000013 as Bears Take Control – What’s Next for SHIB?
Comprehensive News and Technical Analysis Brief:
In the last 12 hours, Shiba Inu ( SHIB ) has seen a decline in price, now trading at $0.00001313 , reflecting a drop of around 4.88% . Over the past week, SHIB has struggled to maintain momentum, with a 3% loss, pushing it further from the $0.000014 range​( CoinMarketCap )​( CoinGecko ).
US and International Developments:
Shiba Inu has faced increased market volatility , with decreasing trading volume and growing bearish sentiment. Over the last week, SHIB’s trading volume has dropped by approximately 10%, raising concerns about the token’s short-term outlook​( Benzinga ). Despite this, the Shiba Inu ecosystem continues to expand, particularly through Shibarium , a Layer 2 scaling solution that promises to reduce transaction costs and improve transaction speeds​( Binance ). This development could improve long-term adoption and price stability, but its short-term impact is yet to be fully realized.
Technical Analysis:
Shiba Inu’s current price decline brings it close to a critical support level of $0.000013 , with analysts pointing out that a drop below this level could see SHIB retrace further toward $0.000012 . On the upside, SHIB would need to break through resistance at $0.000014 to regain bullish momentum . With technical indicators currently flashing mixed signals, SHIB remains in a volatile state​( TradingView )​( CoinMarketCap ).
Read More: https://onthenode.com/cryptocurrency/shiba-inu-faces-decline-to-0-000013-as-bears-take-control-whats-next-for-shib
Comprehensive News and Technical Analysis Brief:
In the last 12 hours, Shiba Inu ( SHIB ) has seen a decline in price, now trading at $0.00001313 , reflecting a drop of around 4.88% . Over the past week, SHIB has struggled to maintain momentum, with a 3% loss, pushing it further from the $0.000014 range​( CoinMarketCap )​( CoinGecko ).
US and International Developments:
Shiba Inu has faced increased market volatility , with decreasing trading volume and growing bearish sentiment. Over the last week, SHIB’s trading volume has dropped by approximately 10%, raising concerns about the token’s short-term outlook​( Benzinga ). Despite this, the Shiba Inu ecosystem continues to expand, particularly through Shibarium , a Layer 2 scaling solution that promises to reduce transaction costs and improve transaction speeds​( Binance ). This development could improve long-term adoption and price stability, but its short-term impact is yet to be fully realized.
Technical Analysis:
Shiba Inu’s current price decline brings it close to a critical support level of $0.000013 , with analysts pointing out that a drop below this level could see SHIB retrace further toward $0.000012 . On the upside, SHIB would need to break through resistance at $0.000014 to regain bullish momentum . With technical indicators currently flashing mixed signals, SHIB remains in a volatile state​( TradingView )​( CoinMarketCap ).
Read More: https://onthenode.com/cryptocurrency/shiba-inu-faces-decline-to-0-000013-as-bears-take-control-whats-next-for-shib
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