Is Shiba Inu (SHIB) on Verge of Catastrophe?
Release: 2024/05/01 22:09 Reading: 344
Cover image via U.Today
Shiba Inu teeters precariously on the brink of a potential catastrophe, facing formidable selling pressure that could theoretically plunge it below the critical $0.00001 threshold. The asset has recently found solace at a crucial support level of $0.000021, depicted by the blue line on the chart. This level serves as a linchpin for Shiba Inu's short-term stability, and any breach below could intensify the selling onslaught.
Currently, the 100-day Exponential Moving Average (EMA) plays a pivotal role in bolstering the price. This technical indicator often serves as a psychological barrier for traders, fostering buying confidence or, if broken, triggering increased selling. Should Shiba Inu's price succumb to this EMA, it will encounter the next major support at the 200-day EMA. src="/uploads/20240504/17148045776635d7615f8bb.png">SHIB/USDT Chart by TradingView
Regrettably, if the price plummets below the 200-day EMA, the next significant support level lies considerably lower, perilously close to $0.00001. Such a move would effectively negate the uptrend Shiba Inu has enjoyed throughout 2024, potentially resetting market expectations and eroding investor sentiment around the asset.
In terms of resistance, Shiba Inu faces immediate hurdles at $0.0000228 and $0.0000245. These levels represent short-term goals for the asset to reclaim in order to sustain its bullish momentum. Overcoming these obstacles could propel the asset back into bullish territory, rekindling investor interest, and potentially leading to a price surge. It would also signal a broader recovery in the cryptocurrency market.
Looking ahead, Shiba Inu's fate hinges on its ability to maintain above these critical support levels. A sustained breakdown below $0.000021 could trigger a cascade of selling, eroding recent gains and exacerbating the negative sentiment surrounding the meme coin.
Recent news
More>- President Donald (PRESDON) Will Explode Over 15,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag 11-24
- Dogecoin Price Prediction for Today, November 23 – DOGE Technical Analysis 11-24
- Dogecoin Price Prediction for Today, November 23 – DOGE Technical Analysis 11-24
- Dogecoin (DOGE) Surges 19% as Hash Rate Hits Record High 11-24
- Solana Hits New ATH, As Pepe Surges 30% Amid Bull Market, Crypto Traders Eye New Meme Coin Going Viral After Video Release 11-24
- Dogecoin (DOGE) Bullish Streak is Awakening Shiba Inu (SHIB) Bulls: What’s Next? 11-24
- Top Meme Coins for December 2024: 5 Picks to Buy Before They Take Off! 11-23
- XRP Price Prediction: XRP Pumps 67% In A Week As Gary Gensler Plans SEC Exit, While Whales Swoop On Pepe Unchained Presale 11-23
- What’s Next for Crypto After Bitcoin Take $100k Price Level? Catzilla Coin Among 3 Altcoins Poised for Big Moves 11-23
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com