Shiba Inu Price Prediction: How Bear

Market Doldrums Threaten SHIB Rally.

Shiba Inu price bulls put all their hope on $0.000007 support as the springboard for the next rebound beyond $0.00001.

Shiba Inu (SHIB) hovers above its most crucial support at $0.000007 while traders shift their attention to Calcium (CAL), a dummy test token launched by the network's developers but not for

investment purposes.

Down 1.3% over the last seven days, the second most popular meme coin's search for the bear market seems far from over.

Does Shiba Inu Price Recovery Depend On This Level?

The run-up to the launch of Shibarium, a Layer 2 scaling protocol, sustained a Shiba Inu price rally from the low in June at $0.000006 to highs above the psychological hurdle at $0.00001 but lost steam on touching highs of $0.000011.

Instead of the rally continuing post the launch in mid-August, declines attributed to the scaling challenges faced by the new network engulfed the token. The sell-off that followed had no regard for several support areas, leaving Shiba Inu price to plummet to $0.000007.

If support at $0.000007 continues to hold firmly, confidence in the possibility of a rebound above $0.00001 will start to improve among investors. Besides, with SHIB trading at $0.00000728 and holding above the lower ascending trendline (in the chart), the risk of further declines in search. of a bear market bottom may have reduced significantly.

A buy signal from the Moving Average Convergence Divergence (MACD) indicator suggests that a rebound is due. Traders often look out for the blue MACD line crossing above the red signal line to place their buy orders in conjunction with other trend indicators.

A positive outlook from the Relative

Strength Index (RSI) reveals that bulls have the upper hand. However, buy signals are not enough to reverse the trend the to make the climb to

unless traders rally behind SHIB to build

the momentum to make the climb to

$0.00001 materialize.

$SHIB