📉 Shiba Inu (SHIB) Struggles to Break Free: Daily Price Analysis

**Concerns Amid SHIB's Rally:**

- Shiba Inu's (SHIB) recent rally above its current range prompts concerns among traders and investors, especially as other memecoins like DOGE face challenges in demonstrating bullish price action.

**Current Price Situation:**

- SHIB/USDT struggles to reclaim its position above $0.00001, a critical level drawing attention from traders and investors for potential long positions.

- The price remains within a range below its 25% Fibonacci Retracement value, trading slightly above the 50-day EMA, signaling mixed sentiments and potential bear dominance.

**Key Price Levels:**

- To restore a bullish rally, SHIB/USDT needs to surpass $0.00001, corresponding to the 38.2% Fibonacci Retracement value.

**Technical Indicators on the Daily Chart:**

- Daily MACD indicates a bearish trend, adding to the current bearish sentiment.

**Crucial Zones to Watch:**

- Support Zone: $0.0000075

- Resistance Zone: $0.0000100

📊 **Analysis Summary:**

- Shiba Inu faces challenges in breaking free from its current price range.

- Traders and investors closely monitor the $0.00001 level for potential bullish opportunities.

- Daily MACD signals caution, emphasizing the need for careful market observation.

🚨 **Disclaimer:**

This analysis serves informational purposes and not financial advice. Cryptocurrency markets involve risks, and decisions should align with individual risk tolerance. Conduct thorough research and trade responsibly.#JojoDaily #ShibaInu #SHIB #cryptoanalysis 📉🐕$SHIB