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One of the most well-known cryptocurrency assets, Shiba INU, is believed to be on the verge of a large explosion.However, a drop in trade volume signals a bearish reversal, and some market analysts predict that a recovery phase will begin very soon. Given that this week’s profits for holders of the well-known<a href="https://www.coingabbar.com/en/cryptocurrency-category/meme-token" rel="noopener noreferrer nofollow"> Memcoin</a> were 50%, it is thought that a significant increase is about to come.<a href="https://www.coingabbar.com/en/crypto-currency/shiba-inu-shib-prices-usd" rel="noopener noreferrer nofollow">Shiba Inu price analysis </a>concludes on a bearish note for the second-largest meme coin in the world as it is clear that prices have fallen by about 7% in the last day and that investors may expect more price declines. Additionally, SHIB has a significant price support level around $0.000010, which held for a lengthy period of time. Then, the meme coin surged past the nearest resistance at $0.000012 price level. It’s interesting to observe how well the meme coin has done since then.Shiba Inu’s daily candle opened at a price of $0.00001479 and climbed to a high of $0.00001499. In fact, the token’s price is currently $0.00001470 a day. At the time of writing, SHIB is valued at $0.00001477.The failure to break the overhead barrier would give the bears more hope to attempt to push the price down below the strong support level at $0.000014. The bulls need to defend this level since a break and close below it could decrease the strength of the rising trend.The SHIB/USDT pair might then get trapped for a few days inside a broad range between $0.000010 and $0.000018.Alternatively, if the price moves upward from its current level and over the above resistance range of $0.000017 to $0.000018, the pair may increase to $0.000022. If bulls overcome this barrier, the rally may continue to $0.000026.KEY LEVELS :RESISTANCE LEVEL : $0.00001570-$0.00001650SUPPORT LEVEL : $0.000014-$0.000013

Cryptocurrency price update: SHIBA INU PRICE ANALYSIS : Shiba Inu lost over 7 percent of its gains from this week.

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