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

UK Financial Conduct Authority Opens Crypto Authorisation Regime

The UK Financial Conduct Authority has formally opened its Crypto Authorisation Regime, marking a significant development in the digital asset ecosystem.

user avatarMaria Gutierrez

Amazon Stock Price Predictions for 2027

Major firms predict Amazon stock will reach $350 per share by 2027, driven by AWS growth and AI advancements.

user avatarDavid Robinson

Tether Partners with Shiga to Launch Financial Products in Africa and Gulf

Tether is transitioning its Wallet Development Kit into financial products for users and institutions in Africa and the Gulf, collaborating with Shiga.

user avatarJacob Williams

Soneium and DayOneDream Join Forces to Tokenize Kpop Revenue Streams

Soneium partners with DayOneDream to tokenize Kpop revenue streams using blockchain technology.

user avatarAndrew Smith

Strive Increases Bitcoin Holdings by 1,107 BTC

Strive has significantly increased its Bitcoin holdings by acquiring 1,107 BTC for approximately $945 million.

user avatarZainab Kamara

Verona Launches verUSD Stablecoin for AI Payments

Verona has launched a new dollar stablecoin, verUSD, designed for AI payments and machine transactions, with over $100 million in institutional commitments.

user avatarAyman Ben Youssef

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.