Shiba Inu is going through a delicate period, oscillating between hope and uncertainty. After a chaotic start to the year, the memecoin struggles to regain its momentum. Investors are scrutinizing every indicator, looking for a signal of recovery.
Shiba Inu in Search of a Second Wind
February has not been any kinder than January for Shiba Inu. After an attempt at recovery, the memecoin has stumbled again. In January, SHIB suffered a drop of 42%, causing panic. However, the recent correction appears to be less brutal. An unexpected event caught the attention of investors: Donald Trump recently expressed his support for cryptocurrencies, generating momentary excitement.
Shiba Inu at the Crossroads: A Possible Rebound?
According to analyst BlueCrypto, Shiba Inu must absolutely maintain above the critical threshold of $0.00001465. A rise towards $0.00001590 becomes plausible if this condition is met. Conversely, dropping below this threshold could trigger a new wave of selling. Analyst Crypto Sheriff is more optimistic, expecting a bullish movement if the current trend confirms. Key figures to watch: current support at $0.000013, next resistance at $0.00001590, drop risk under $0.00001150.
A Capricious Crypto Market
The global crypto market context directly influences SHIB's evolution. Volatility remains high, though some digital assets have shown signs of recovery. A decrease in trading volumes and waning interest in memecoins negatively affect SHIB. Some experts believe this decline could be temporary and altcoins might see renewed confidence.
The future of Shiba Inu largely depends on global market trends and investor reactions. Under such conditions, the fate of the memecoin remains uncertain, and only time will tell if it can return to its former heights.
