$SHIB Plunges 40% in Two Weeks: Another Major Drop After $PEPE
Shiba Inu ($SHIB) has experienced a significant downturn, losing nearly 40% of its value over the past two weeks. Currently trading at $0.00002052, it’s down 15.61% in the last 24 hours, with a recent low of $0.00002025. The sustained bearish momentum highlights strong selling pressure as $SHIB struggles to maintain key support levels.
Key Levels to Monitor
Support: $0.00002000 – A breakdown here could lead to further declines toward $0.00001950.
Resistance: $0.00002450 – Bulls need a recovery above this level to signal any meaningful rebound.
Trade Setup
Entry Point: Around $0.00002033 for a cautious long position or consider a breakout short below $0.00002000.
Targets:
1. $0.00002200 – Short-term recovery zone.
2. $0.00002450 – Key resistance to watch.
Risk Management
Stop-loss: Set at $0.00001990 to manage downside risk effectively.
Market Insight
$SHIB's steep decline underscores seller dominance in the market. However, oversold conditions may pave the way for a potential short-term bounce. Monitor trading volume closely for any signs of reversal, and approach trades with caution in this volatile environment.