๐จ Inu (SHIB) has been stuck in a trading range ๐, leaving investors and traders feeling uneasy ๐ฌ. $SHIB ๐โคด๏ธ๐ช
The price of SHIB has been hovering around $0.0000134 ๐ธ, with the 200-day and 100-day exponential moving averages (EMAs) coinciding with resistance levels at $0.00001813 and $0.00001597, respectively ๐.
Traders are being cautious and waiting for a clear directional move ๐ค, resulting in relatively low trading volume ๐. This uncertainty has led to a stalemate, with SHIB unable to break out of its trading range ๐.
However, analysts predict that SHIB will eventually break out of this range ๐, targeting a price of $0.000072323 ๐.
They recommend placing buy orders around $0.000018343 to capitalize ๐ธ.
Additionally, the inadvertent burning of 2 billion SHIB tokens ๐ฅ has reduced the circulating supply, which could boost demand and price pressure ๐ช.
This reduction in supply, combined with the predicted breakout, could potentially lead to an increase in SHIB's value ๐.