Shiba Inu (SHIB) Breakout Failed, What Happens Next 🔥🔥🔥

Shiba Inu suffered a bearish crash after failing to sustain price growth over the past 24 hours. As of the time of writing, Shiba Inu is down 1.68% in 24 hours to $0.00002553.

The SHIB crash was all-encompassing, with a 30-day drop of 4.44%, hovering from a low of $0.00002071 to a high of $0.00002796.

As Shiba Inu crashed, other indicators were not optimistic. 24-hour trading volume fell 49.39% to $625,802,833. At its peak this week, single-day trading volume soared to $1 billion.

With the price of Shiba Inu falling to the $0.00003 mark, the market may take its course. This means that Shiba Inu could see a sell-off to the point where the relative strength index (RSI), Bollinger Bands, and other key trend change indicators will signal a reversal.

Shiba whales could also influence the next move. If whale investors continue to increase their accumulation, SHIB’s supply crunch will become more pronounced, driving prices higher.

The dynamic nature of Shiba Inu puts it at the forefront of deflationary trends. With millions of Shiba Inus being burned every day, the meme coin project is gearing up for a long-term rally.

As an over-supply token, in addition to burning its tokens, Shiba Inu expects

One unique way for its valuation to surge in the long term is by driving utility within its ecosystem.

The protocol is doing this by launching its Ethereum Layer 2 scaling solution, Shibarium. Amid all of these fundamentals, SHIB aims to maintain support around $0.000025 while aiming to reclaim the $0.00003 level in the medium term.

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