Shiba Inu May Rebound Based on Technical Indicators

user avatar

by Giorgi Kostiuk

2 years ago

The largest meme token Shiba Inu has failed to reach a new all-time high in the current cycle, experiencing a significant drop since December 2023. However, some technical indicators suggest a potential rebound soon.

Market Dynamics Before US Elections

The second-largest meme coin Shiba Inu showed sluggish performance ahead of the US elections, with its price stuck in a range between $0.000014 and $0.00002 for weeks.

Post-election and December Peak

Following the US elections and Trump's victory, SHIB surged to a multi-month high of just over $0.0003. At the start of the current month, the asset went on the offensive again, peaking at $0.0000335 on December 8. However, the price started to decline sharply shortly afterward, especially following the latest FOMC meeting.

Technical Indicators and Forecasts

Current data from popular analyst Ali Martinez shows a potential rebound to $0.000029, based on the TD Sequential indicator, which also identified local bottoms for DOGE and BTC.

Despite recent downturns, Shiba Inu has the potential for recovery, thanks to technical indicators pointing to a possible rebound in the near term.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Optimism Releases Required Batcher Update v1170

Optimism has announced the release of opbatcher v1170, which is mandatory for operators using the batching infrastructure for OP Stack chains.

user avatarAndrew Smith

NEAR Developers Release First Candidate for nearcore 2140

The NEAR developers have published the first release candidate for nearcore 2140, introducing significant protocol and database changes.

user avatarJacob Williams

Lido Completes Winddown of Regular Simple DVT Clusters

Lido has successfully completed the winddown of its regular Simple DVT clusters, marking a significant step in the decentralization of its validator operations.

user avatarZainab Kamara

Avalanche Schedules Helicon Network Upgrade for September 22

Avalanche has announced the Helicon network upgrade for its mainnet, set to activate on September 22 at 1500 UTC.

user avatarSon Min-ho

Uniswap Proposes Protocol Fee Rollout to Circles Arc Blockchain

Uniswap Labs has introduced a proposal to extend its protocol fee collection and UNI burn infrastructure to the Arc blockchain.

user avatarAyman Ben Youssef

Aave V4 Now Live on Circle's Arc Blockchain

Aave V4 has officially launched on Circle's newly established Arc blockchain, featuring key assets such as USDC, EURC, cirBTC, and WETH.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.