Fundamentals support potential upside for Shiba Inu coin
However, a market decline is not too far away in the volatile cryptocurrency market. Therefore, a new downtrend may start to form if the Shiba Inu index drops below the 20-day and 50-day EMAs. Below the trendline, a firmer bearish grip could trigger a larger sell-off, triggering another sweep of the $0.00002 and $0.00002 support areas.
Fundamentals support potential upside for $SHIB coin
The strong support zone as explained by IntoTheBlock starts from $0.000024 and $0.000025. The large number of addresses that bought the 47.8 trillion SHIB tokens in the range will be looking for higher prices. This means they are unlikely to sell, supporting Shiba Inu Coin for a massive breakout.
The IOMAP pattern itself reinforces the bullish hypothesis emphasizing weaker resistance areas. With a break above $0.000028, the Shiba Inu could begin a significant rally as the second quarter ends.
