SHIB on the Edge? A Closer Look at Shiba Inu’s Recent Market Movements

If you’ve been following Shiba Inu (SHIB) lately, you’ve probably noticed some sideways movement in the market. 🤔 Whether you’re a seasoned trader or a newbie to the crypto space, this memecoin continues to be a point of curiosity for many. Let’s dive into what’s happening with SHIB by taking a look at the short-term and long-term charts and what they could mean for its next move. 📈

Market Overview

Starting with the 4-hour chart, it’s clear that SHIB has been struggling to break out of its current range. The price has been hovering around 0.00001330 for several days, oscillating between 0.00001340 and 0.00001300, without showing any decisive trend. The 50-day moving average (MA) is pushing SHIB lower, indicating bearish pressure that has yet to subside. That said, there is still some optimism to be found!