🚨🚨🚨𝐒𝐡𝐢𝐛𝐚 𝐈𝐧𝐮 (𝐒𝐇𝐈𝐁) 𝐅𝐚𝐜𝐞𝐬 𝐊𝐞𝐲 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐓𝐞𝐬𝐭 𝐀𝐦𝐢𝐝 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝟐𝟓% 𝐏𝐫𝐢𝐜𝐞 𝐃𝐞𝐜𝐥𝐢𝐧𝐞🔥🌟🌟
The Shiba Inu (
$SHIB ) market appears to be approaching a critical juncture as its price action shows signs of weakness. Currently trading at $0.00002232 with a modest 2.71% gain, SHIB is dangerously close to falling below the crucial 200-day Exponential Moving Average (
#EMA )—a level that often dictates the long-term trend of an asset.
Rising Resistance and Weak Momentum✨
Despite reaching $0.000033 in December 2024,
$SHIB has since slipped to $0.000021, with strong resistance levels forming between $0.000021 and $0.000024. On-chain data points to weak market momentum and increasing selling pressure, suggesting that the recent price drop could extend further. If SHIB’s price breaches the 200-day EMA, a significant bearish trend may emerge, potentially triggering a double-digit percentage correction.
The Importance of the 200-Day EMA🚀🚀
Historically, the 200-day EMA has served as a critical benchmark for SHIB. When the price trades above this level, it often signals the potential for sustained growth. Conversely, slipping below it tends to confirm a bearish phase. For instance, after falling below the 200-day EMA in July 2024, SHIB dropped from $0.000019 to $0.000012 by early September—a decline of over 35%. A similar scenario may now be unfolding, with analysts warning of further downside if this support fails to hold.
Investors should closely monitor SHIB’s price movement near the 200-day EMA. While some view this decline as an opportunity to accumulate at lower prices, current technical indicators and on-chain data suggest caution may be warranted.
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#BearishOutlook #MemeCoins $SHIB