According to U.Today: SHIB Recover After 30% Plunge?

Shiba Inu has seen a sharp 30% decline. But one way or another, the only question in most holders' minds is: "Will Shiba Inu really recover?" The token's dip to the $0.00002165 mark has been met with a mixture of concern and anticipation. A rebound from this level could signal a strong support base, potentially pivoting SHIB back into an uptrend.

As for the chart, the Bollinger Bands have been preceding the drop as their narrowing was a strong signal of an upcoming price surge. Now, with SHIB having slipped below the crucial 50-day moving average, the only thing left is to wait for a return above this aforementioned level.

The trading activity is pretty quiet, which shows that people are not too confident about SHIB right now. The RSI is suggesting that selling pressure prevailed over buys on the market, pushing the value of the token down. SHIB will face its first big test at the $0.00002880 level. If it can go beyond that, we might see the price move up toward $0.00003.

As for what's next for SHIB, it is really tough to say, considering the lack of fundamental development around Shiba Inu. However, there is always the possibility of a further price reversal and the return of the buying power on the market in general, which is going to push the value of tokens like Shiba Inu further up - especially if the risk appetite among investors returns.