SHIBA INU ALERT: Major Adoption News, But Will Prices Rally or Collapse? 🚨
Shiba Inu ($SHIB ) is making headlines with significant adoption news, yet its price performance remains lackluster. Despite a Dubai real estate firm announcing it will accept SHIB for property purchases, the meme coin is struggling under bearish market conditions. Traders and investors are left wondering: will SHIB rally or slide further?
Breaking News: Shiba Inu Adoption in Dubai
A Dubai-based real estate firm has embraced $SHIB as a payment method for property purchases, signaling growing recognition of the meme coin beyond speculation.
Bullish Sentiment: This development strengthens SHIB’s push to become a utility-focused asset rather than just a meme coin.Market Reaction: Despite this milestone, SHIB has dropped 5.84% in the past 24 hours, trading at $0.00002061, with bearish momentum dominating.
Shiba Inu’s Current Price Action: Bearish Under Pressure
The market sentiment for SHIB remains bearish despite increased adoption:
Trading Volume Surge: SHIB’s 24-hour trading volume rose 20.31% to $478.26 million, but the activity leans toward sellers.Price Range: SHIB is consolidating between key support at $0.00002050 and resistance at $0.00002250, reflecting market indecision.
Technical Analysis: Will SHIB Break Out or Break Down?
The consolidation phase has traders eyeing two possible scenarios:
Bearish Breakdown:
If SHIB drops below the $0.00002050 support, it could spiral toward the next support at $0.00001800, confirming extended bearishness.The Awesome Oscillator (AO) remains in the negative zone, indicating bearish pressure persists.
Bullish Reversal:
A breakout above $0.00002250 resistance could invalidate the bearish bias, setting the stage for a potential rally toward $0.000026 and $0.000029 (Fibonacci retracement levels).Shrinking histogram bars on the AO suggest bearish momentum may be fading, hinting at a possible shift toward bullish sentiment.
#BinanceAlphaAlert #BTCXmasOrDip? #Write2Earn #ETHETFsApproved #shiba⚡