The ongoing market crash caused by Bitcoinâs fall has been catastrophic to Shiba Inu ($SHIB
). Data from CoinMarketCap shows the Shiba Inu price has dropped by 8.4% in the last seven days. However, the meme token has a double-digit gain of 14.2% in the biweekly timeframe.
The memecoin lost the crucial $0.00002879 level during this period. Bulls may attempt to reclaim it in the coming weeks. Crypto analyst Asteks believes the Shiba Inu coin is set to rally to $0.00003237 due to the formation of a cup and handle pattern on the chart.
In addition to Asteks, other crypto gurus have forecasted an upward trend for the Shiba Inu token. Shib Spain noted that the meme coin is testing a crucial support level around $0.000024. If this support remains intact, the expert believes that SHIB may surge to $0.0000520.