Shiba Inu (SHIB) is facing uncertainty in the current market downturn. Despite a recent rebound, SHIB's price is near a critical support zone. Two key areas are attracting attention: a strong buying zone between $0.000014 and $0.000019, and a smaller zone at $0.000019 to $0.000021. The presence of large holders in these zones suggests potential for support. However, the overall market sentiment remains bearish.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Shiba Inu is treading near a critical price zone amid the current market uncertainty. The crypto market saw a significant sell-off during the week, with millions of dollars wiped out in crypto liquidations. After a strong start to the new year, which saw Bitcoin recapture the $100,000 level, Bitcoin fell to its lowest level this year as it struggles to maintain momentum. Shiba Inu was not exempt from the bearish momentum, reaching lows of $0.00002 on Jan. 8 during a three-day sell-off. Shiba Inu began to rebound in Friday's session and it continued till Saturday, reaching intraday highs of $0.00002216. At the time of writing, SHIB was up 1.53% in the last 24 hours to $0.00002183 but down 11.12% in the past seven days. The RSI indicator has dipped below the midpoint on the daily chart, suggesting a slight edge to the bears. Albeit, Shiba Inu remains in consolidation or range trading between its moving averages of 50 and 200 at $0.00002519 and $0.0000189. The question of where Shiba Inu trends next lies in the heart of many given the current market uncertainty. Tokens are held could serve as the next major support level for the meme coin if the current uncertainty in the market persists. 532.61 trillion SHIB were bought in the range between $0.000014 and $0.000019 at an average price of $0.000016 by 133,600 addresses. Buying activity at this range is expected to pick up as the 133,600 addresses that had previously bought at this price range are likely to provide support. The large holding volume suggests that holders at this range are unlikely to sell unless the SHIB price drops significantly below this range. Thus, there is less selling pressure from holders trying to break even on their positions. Right below SHIB’s current price of $0.0000218, a relatively minor support zone exists between $0.000019 and $0.000021, where 18.2 trillion SHIB were bought by 20,000 addresses. This intermediate support level could provide some cushion in the event of a price decline but may not be as strong as the 532 trillion SHIB range
SHIB Shiba Inu Cryptocurrency Crypto Market Price Prediction Support Zone Market Uncertainty RSI Moving Averages
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shiba Inu (SHIB) Eyes Epic 35 Trillion SHIB Bearish ImbalanceShiba Inu sellers may outweigh buyers by stunning 35 trillion SHIB
Read more »
2.4 Trillion Shiba Inu (SHIB) in 24 Hours: Are Whales Bullish?Shiba Inu (SHIB) eyes colossal $72 million bullish whale activity in 24 hours
Read more »
Shiba Inu (SHIB) on Verge of 17% Crash, According to Bollinger BandsShiba Inu (SHIB) faces make-or-break moment as Bollinger Bands signal 17% crash risk
Read more »
Bollinger Bands Identify Next Important Stop for Shiba Inu (SHIB)SHIB community better pay attention to this Bollinger Bands price prediction for Shiba Inu meme coin
Read more »
12.16 Trillion Shiba Inu in 24 Hours, SHIB Whales in Hype ModeShiba Inu whales plot turnaround for SHIB price
Read more »
SHIB Burns Soar 630% — What's Happening?Shiba Inu community continues to rigorously burn SHIB meme-inspired coins
Read more »