😱🔥Shiba Inu April Anomaly: Will SHIB Price Break This Trend?

1 of the on-chain analytics firm Intotheblock. The price of the dog-themed cryptocurrency #ShibaInu (#SHIB ) increased by 2.5 times in 2024, while the demand for meme coins reached its highest level since 2021, the quarterly report said. As a result of this tremendous rise, the total value of memecoin has almost tripled in 2024.

Despite the optimism surrounding its potential, the historical trend of a negative April closing seems to cast a shadow of uncertainty, especially given its strong community support and continuous improvements.

The data analysis reveals a recurring trend, in which Shiba Inu tends to face downward pressure in April. Whether it was due to market sentiment, profit taking or historical coincidence, the month of April was not suitable for SHIB in terms of price action.

April April April 2022, the Shiba Inu price fell by 21.90% and 6.83% in April 2023, and currently in April 2024, according to TradingView data, it has fallen by 11.16% so far.

This pattern has left many wondering: will SHIB survive this trend, or is the "April jinx" a destined repeat?

The current contention is the 50 trillion SHIB level, which could determine the price direction of Shiba Inu. According to IntoTheBlock data, 50.66 trillion SHIB were purchased by 80,380 addresses with an average price of $ 0.000027 in the December range of $ 0.000025 to $ 0.000029.

Below this December, the SHIB has relatively limited support, implying that it could fall further if the price falls below current levels. The next important support December is from 0.000019 to 0.000025 US dollars, where 71.44 trillion SHIB was purchased by 83,310 addresses at an average price of 0.000023 US dollars.

On the other hand, if Shiba Inu continues its current recovery, it will face the next resistance at $0.000029 and $0.00003, where 18.35 trillion SHIB was purchased by 44,450 addresses.

#Memecoins #binance