SHIB Price Prediction: Recovery Will Take Some Time

Shiba Inu (SHIB) price action is leading the pack among the worst performing meme coins this month. Recovery for SHIB holders may take some time as the current market conditions do not support a bullish outcome.

Shiba Inu’s price is $0.00001799 and has fallen below the critical support level of $0.00002093. The meme coin may now suffer from the consequences of a fall as investors withdraw their investments. The price of the meme coin may hover below $0.00002093 or drop to $0.00001473. In either case, the price of Shiba Inu may next enter a consolidation phase and recovery will be delayed.

This bearish thesis will only be invalidated if the buying pressure returns. This will once again push the price higher, potentially taking it above $0.00002093. Further push will make $0.00002267 a support level.

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