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Analysis of Shiba Inu Trends: What Are the Next Steps?

Analysis of Shiba Inu Trends: What Are the Next Steps?

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by Giorgi Kostiuk

10 days ago

An analysis of the price movements and market situation of Shiba Inu shows fluctuations around key support and resistance levels.

Current Price and Support

Shiba Inu (SHIB) is currently trading just above the $0.0000134 level after failing to reclaim the $0.000015 mark. During this movement, the asset faced strong resistance around the 200-day moving average, leading to a local price correction.

Resistance and Potential Movements

The current resistance level at $0.00001449 remains critical for any renewed bullish attempts. If SHIB fails to attract sufficient volume to overcome this level, it may fall towards the next support target at $0.00001267.

Overall Market Condition

At this moment, the market is in wait-and-see mode as both retail investors and large holders observe the situation. The overall market condition is characterized by participant caution, which reflects on trading volume.

The current situation of Shiba Inu reflects uncertainty and anticipation. Sellers and buyers are looking for clear signals to make decisions on further actions.

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