A popular meme coin Shiba Inuhas experienced a significant decline in value recently. Currently, the price of Shiba Inu Coin stands at $0.00002431. Additionally, it lost 11.89% in value in the last 24 hours. This decline dropped the market value to $14.32 billion and dropped the coin to 12th place in the rankings. However, transaction volume increased by 166.11% to $1.2 billion.
Recently, SHIB price has been fluctuating between $0.000023 and $0.000024. This happened after the asset broke below the $0.00003 resistance level set in the previous week. Investors are carefully re-evaluating their strategies, reacting to the token’s recent performance.
Shiba Inu Price Projection, What’s Next for SHIB After Recent Drops?
Over the past week, SHIB’s market value has been seen falling significantly. Investors observed a downward trend, with the coin’s value falling by over 10%. This decline contributed to a broader bearish pattern that emerged last month, resulting in a 25% drop in SHIB’s price.
cryptocurrency market Bitcoin As the halving approaches, a general decline in prices has been noted. However, historical trends suggest that a rebound in prices of various digital currencies, including SHIB, may be likely following the halving.
Analyst View: Lucie’s Perspective on SHIB Amid Crypto Market Volatility
Despite recent declines in the SHIB’s value, Shiba Inu enthusiasts are reassured by the team’s positive outlook. In particular, the commitment of the SHIB team, along with developments such as the potential inclusion in a new Hong Kong ETF, is bolstering investor confidence. Lucie, Shiba Inu’s market strategist, crypto- has handled the current volatility in its markets with confidence.
SHIB is currently facing a key resistance level at $0.000025. If this level is broken, meme coinIt is thought that it may rise to $0.00003. This increase could be a step towards reaching the important milestone of $0.001.
On the downside, if SHIB price fails to maintain its current level, it could drop to $0.000024. Another decline in market sentiment could push the price down to $0.000023. In case of intense downward pressure, the price may drop to $0.00002.
Bollinger Bands on the daily price chart show that SHIB is trading near the lower band, indicating a less volatile period ahead. Currently, the lower band is at 0.00002439 and the upper band is at 0.00003217. The Relative Strength Index (RSI) is hovering around 41.85. This value shows that there is a balance in buying and selling pressures.
