Disclaimer: The opinions expressed by our editors are their own and do not represent those of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
So here we are again with Shiba Inu (SHIB) hanging by a thread, ready to either plunge into the abyss, or maybe, just maybe, bounce back. The price of this meme coin has been teetering, and it looks like we’re about to see if it hits that second bottom.
A few days ago, SHIB held on like a champ at $0.00002, despite a market gone crazy with nearly $1.5 billion in liquidations. This was supposed to be the floor, right? The point where everyone says, “Okay, this is where we stop selling and start buying.” » But it turned out that there was a trapdoor on the floor.
Related
Over the past few days, SHIB plunged 5%, sliding just below the $0.00002 mark. It’s as if he wanted to test if this level was really as strong as we thought. Spoiler: it wasn’t. Now, $0.00002 is not just support; it turned into a ceiling, a level of resistance that the Shiba Inu Token I couldn’t pass.
So where does he go next? If we look at the charts, the next stop could be $0.00001923, where the 200-day median average is scary. If it goes through there, there is another bottom at $0.000017, which was a bit like SHIB’s safety net in the past.
Related
The feeling right now? It’s like watching a tightrope walker in a storm. You know, one wrong step and they go down, but if they keep their balance, they might just make it to the other side. The SHIB community is on edge, eyes glued to their screens, wondering if this is the moment the coin rebounds or if we are headed for another crash.