The popular joke cryptocurrency Shiba Inu, has failed to register any appreciable price movement in the last 24 hours. SHIB, trading volume and market capitalization have been in decline since losing the top ten in the CMC ranking. SHIB, 0.000055 continues its attempts to sign a move above the resistance level at the dollar level.
The Latest Situation in Shiba Inu
Popular meme coins Shiba Inu as of the moment of writing this article, it is trading at the dollar levels of 0.00005199. SHIB while the daily trading volume fell along with the price, a loss of over 47% was recorded in the last 24 hours. The meme coin, known as the Dogecoin killer, signals a decline, predicting that the current price correction may continue for some time.
Shiba Inu is trading 42% below the dollar level of 0.00008932, which is an all-time high. This price movement created a descending parallel on the four-hour chart, in which the price was constantly rejected by the upper limit of the channel. SHIB is facing a resistance at the level of 0.00005510, where it intersects the upper limit of the 50-SMA channel. Turning this level into support will be the key point of the rise of Shiba Inu.
SHIB It can destroy the resistance level of the 10 dollar formed by the 0.00006099-SMA with a decisive bullish burst. Exceeding this place can lead to such an outcome as exceeding the all-time high.
Shiba Inu Has Set Another Record
As the rise of meme coins continues Etherscanaccording to the data recorded from Shiba Inu, the number of users set a record with 970,000. Shiba Inu, which is approaching one million, continues to rise in adoption rates. SHIB is taking part in the race to snatch the flag from its biggest rival Dogecoin. SHIB, the cryptocurrency market is following the general trend and is not yet signaling a strong trend.