😀 Is Shiba Inu’s Rally a Dead Cat Bounce, or the Start of a Recovery?
● Shiba Inu’s price shows signs of recovery, up 4% in 24 hours.
● Trading volume has declined, suggesting decreased investor interest.
● SHIB faces resistance at $0.000021, a key level for further gains.
Shiba Inu (SHIB), the popular meme coin, has shown signs of recovery after a prolonged period of downward pressure, posting a 4% gain in the last 24 hours and holding above a crucial support level of $0.000018 after weeks of downward pressure.
Despite the recent price uptick, Shiba Inu’s 24-hour trading volume has dropped by 25.61% to $449,091,898. This decline in trading volume indicates that investor interest may be tapering off slightly.
🔸 SHIB Price Movement
Shiba Inu has maneuvered through a volatile trading environment characterized by swift price swings. According to TradingView, Shiba Inu experienced a short-lived rebound of around the $0.00003 level at the end of last month. However, it faced substantial resistance, resulting in the continuation of the downward trajectory that started from the $0.000045 mark in late Q2.
In yesterday’s recovery, Shiba Inu’s price bounced back from a low of $0.000017…
