Shiba Inu has experienced a massive price correction in the past few weeks. Data from CoinMarketCap shows the Shiba Inu price has dropped by 16.8% on the weekly timeframe. The losses have also extended to the biweekly and monthly levels where there are price drops of 23.0% and 3.1%.
The meme coin’s value is consolidating between $0.00002364 and $0.00002887 on the weekly level. Despite the decline, analysts maintain a bullish stance on the Shiba Inu crypto. Crypto Sheriff believes that $SHIB
’s price could rise above its current record high of $0.00008654 this cycle.
Also, another analyst CryptoELITES has cited a cup and handle formation on the weekly chart. According to him, a potential breakout could push the Shiba Inu price USD to $0.0004729. Such a rally would erase a zero from the current value of the token. #MarketPullback
Cryptocurrencies are green. Bitcoin is above $ 103,000 and continues to advance. There are also increases in altcoins and memecoins, but they are not at a level that will make investors happy. While BTC continues its tremendous advance, we cannot see serious increases in altcoins such as BNB, ETH, SOL, LUNC, AVAX. Strong memecoins such as DOGE, SHIB, PEPE, BONK are also silent. The stage is completely in Bitcoin...