Shiba Inu has been stuck in a persistent decrease trend, attempts at recovery constantly failing. The same part had difficulty crossing key resistance levels, and the feeling of investors remains dull due to the losses in progress.
With limited investor support, Salogner There is now depends on Bitcoin’s performance for any potential rebound.
Shiba Inu investors need help
During the last month, the losses of transactions have largely exceeded those in profit for Shiba Inu. This reflects the in progress lowered feeling, because more investors are in a position of loss than profit. The domination of the loss of transactions further reduces market confidence, leaving a lot to hesitate to participate in network activities.
Following these lower prospects, the behavior of investors has changed, many withdrawing from the realization of transactions on the network. This cautious approach results in a drop in the volume of negotiation, which exerts additional pressure on the price of Shib. Until the feeling changes or market conditions improves, Shiba Inu is likely To continue to cope with the downward pressure.
Shiba Inu shares a strong correlation with Bitcoin, with a correlation coefficient of 0.94. This suggests that Shib could follow the Bitcoin price movements, especially if Bitcoin continues to show his strength. If Bitcoin breaks the crucial barrier of $ 100,000, it could point out a growth period for the wider market of cryptography, including Shiba Inu.
This close relationship with Bitcoin offers Shiba Inu potential path to recovery. If Bitcoin gathers, it could provide the necessary momentum to withdraw SHIB from its downward trend. However, SHIB’s dependence on Bitcoin also means that its recovery depends on Bitcoin’s performance in the coming weeks.
Shib price prediction: stuck in a fork
Shiba Inu is currently At the price of $ 0.0000,1591, having been stuck under the resistance of $ 0.00001676 for last week. The part endured a downward trend of one month, pushing it to its current price level. Without a significant change in the feeling of the market, Shib is unlikely to violate this short -term resistance.
If the lowering market conditions persist, Shiba Inu can continue to consolidate below the resistance of 0.00001676. However, maintenance above the support level of 0.00001462 could offer SHIB a certain stability, preventing the drawbacks more and allowing a potential slow recovery if wider market conditions improve.
If the bitcoin recovers and pulls Shiba Inu With him, Shib could violate the resistance by 0.00001676 and increase to $ 0.00002,000. A successful thrust above this key level would open the door to more in-depth growth, potentially marking the start of a new increased phase for the memes piece.
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