Shiba Inu (SHIB) Frightening Fall: These Levels Are Very Critical

Shiba Inu (#SHIB ) gave signals of danger with the decline of the cryptocurrency market. The price of the popular memecoin fell by 2.43 percent to $ 0.00002568. However, despite the ongoing selling pressure, SHIB's exponential moving average (EMA) approaching the 50 level gave hope that the price structure could turn positive. The indicator in question takes the average of the 50-day price movement. In fact, Shiba Inu may enter an uptrend if it rises above this average.

SHIB's fall in question came after a strong rally in November. Although the token approached $ 0.000033 during this process, this momentum weakened over time. Currently, $SHIB is approaching the 50 EMA band at around $ 0.00002512.

The 50 EMA rate is generally followed as a support level in parities. Therefore, if SHIB breaks above the 50 EMA, the outlook will turn positive. However, if this level is lost, selling pressure will increase and the price may fall even further. In addition, the decrease in trading volume shows that buyers and sellers are not showing as much demand for SHIB as before.

Another factor that may affect the Shiba Inu trend will be the performance of memecoins. The memecoin craze in October and November supported the rise in $SHIB prices. However, the memecoin trend lost its strength later. As a result, a selling wave started in memecoins. If the money inflow to memecoins increases again, SHIB can be expected to increase.