š 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
š **Analysis Summary:**
- Shiba Inu faces challenges in breaking free from its current price range.
- Traders and investors closely monitor the $0.00001 level for potential bullish opportunities.
- Daily MACD signals caution, emphasizing the need for careful market observation.
šØ **Disclaimer:**
This analysis serves informational purposes and not financial advice. Cryptocurrency markets involve risks, and decisions should align with individual risk tolerance. Conduct thorough research and trade responsibly.#JojoDaily #ShibaInu #SHIB #cryptoanalysis šš$SHIB