Shiba Inu (SHIB) price is facing a crucial juncture with a strong support level potentially acting as a springboard for a recovery. Low trading volume adds complexity to the situation.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.Shiba Inu has been struggling to gain momentum, but a significant support level may be near. Data from the In/Out of the Money Around Price (IOMAP) metric, supported by a massive trading volume of 40 trillion SHIB, indicates that if SHIB continues to decline, it will encounter strong support in this price range, making it a potential bull market stronghold. Historically, these support clusters have provided assets with the stability needed to launch substantial recoveries. The price of SHIB could act as a springboard if it approaches this area, alleviating selling pressure and offering bulls an opportunity to regain control.Currently, SHIB is trading at $0.00002236, just above the critical support zone identified by the IOMAP. With the 100 EMA offering additional support, SHIB's price appears to be consolidating on the daily chart. For the asset to resume its upward trend, it must overcome resistance at $0.000025. Adding another layer of complexity is the current low trading volume. The asset's ability to break through significant resistance levels is hindered by lower volume, which could also indicate waning bearish momentum. As a result, the balance between sellers defending the $0.000025 resistance and buyers entering at the $0.000022 support will likely determine SHIB's near-term direction
SHIB Shiba Inu Cryptocurrency Support Level Price Consolidation IOMAP
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