LIVE### Shiba Inu (SHIB) Rejected at $0.00003: What's Next?
Shiba Inu (SHIB) couldn't stay at the $0.00003 level and quickly dropped about 10%. This drop isn't critical, and SHIB might still go up, but the failed breakthrough could be important for future traders.
Recently, SHIB's price action showed the volatility and uncertainty common in cryptocurrencies, especially meme tokens. After a strong rise, SHIB reached close to $0.00003 but then fell back to around $0.000026, losing about 10%.
Despite this drop, the outlook for Shiba Inu remains mixed but hopeful. The token is trading above its 50-day EMA and has had stable support for weeks. The RSI is at 57, indicating a neutral state and potential for movement in either direction. This suggests SHIB isn't overbought and might attract more buyers, despite the psychological barrier from the recent rejection at $0.00003.
Key points to watch are SHIB's trading around its support levels. If it stays above the 50-day EMA and consolidates, it may try to break through $0.00003 again. However, if it falls below this support, it could drop further to around $0.000022.
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