Shiba Inu Price Analysis: Bullish Potential and Future Prospects 📈

There is a positive trend in the price of Shiba Inu (SHIB). SHIB showed a double recovery around the support level of $0.0000238, revealing investors’ interest in this point.

SHIB is considering this level as a favorable buying point, and after the confirmation of the $0.0000238 support level, SHIB is more likely to reach new highs.

SHIB’s previous efforts to reach the resistance level of $0.0000328 failed and the price declined. I think this price action can be a savings phase and SHIB can reach higher levels.

In 2021, SHIB reached an all-time high of $0.00008845 and saw the $0.000044 level in the last rally. I expect a possible recovery for SHIB before the next Bitcoin halving.

The value of Shiba Inu fell 6%, trading at $0.00002646 and is the 12th largest cryptocurrency with a transaction volume of $1.45 billion. Shibarium (Layer-2 solution) strengthens the ecosystem by reducing transaction fees, investor confidence increases and new users enter the market.

$SHIB

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