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

Aviva Investors Expands Tokenized Fund Offerings with Sterling Liquidity Fund Launch

Aviva Investors has launched a tokenized share class of its Sterling GBP Liquidity Fund on the XRP Ledger, marking its second tokenized fund.

user avatarDiego Alvarez

Glamsterdam Upgrade Delayed Despite Security Improvements

Glamsterdam upgrade faces delays despite vulnerability fix due to additional testing requirements.

user avatarKenji Takahashi

Ethereum Developers Address Vulnerability in Glamsterdam Upgrade

Ethereum developers have resolved a serious vulnerability in the Glamsterdam upgrade that could have allowed block builders to withdraw ETH intended for staking validators.

user avatarMaria Fernandez

Ansem Issues Bearish Warning for Bitcoin and Ethereum

Prominent cryptocurrency trader Ansem issues a bearish warning for Bitcoin and Ethereum, citing deteriorating market momentum and critical reference levels.

user avatarGustavo Mendoza

AI Stock Performance Could Impact Cryptocurrency Markets

Ansem raises concerns about AI stock performance impacting cryptocurrency markets, suggesting potential increased volatility for Bitcoin and Ethereum.

user avatarMiguel Rodriguez

Upcoming Federal Reserve Decision May Heighten Market Volatility

The Federal Reserve is set to announce its latest interest rate decision on October 28, which may lead to increased market volatility.

user avatarRajesh Kumar

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.