<ul class="news-points"> 
 <li>SHIB price struggles to break resistance, and bears take control.</li> 
 <li>Negative momentum threatens to test the SHIB price support level.</li> 
 <li>Indicators project buyers are gaining control, pointing to potential trend reversal for SHIB.</li> 
</ul> 
Despite a 19.73% rise in the 24-hour burn rate, positive momentum in the <a href="https://coinedition.com/tag/shiba-inu-shib/">SHIB market</a> dissipated after failing to breach the 24-hour high of $0.000007309. As a result, bears took control of the market, driving the SHIB price to an intra-day low of $0.000007071, where support was established. 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$SHIB</a> Price: $0.00000717 (1hr 0.06% ▲ | 24hr -0.84% ▼ ) Market Cap: $4,228,973,421 (-0.58% ▼) Total Supply: 589,350,704,822,190 TOKENS BURNT Past 24Hrs: 14,975,587 (19.73% ▲) Past 7 Days: 40,033,143 (-88.19% ▼)— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1671065397028700163?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">June 20, 2023</a>
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</figure> 
The bearish influence was still in action at press time, resulting in a 1.69% drop to $0.000007164. During the bull-bear struggle, the SHIB’s market capitalization fell by 2.23% to $4,211,643,145, while the 24-hour trading volume fell by 52.14% to $97,529,107. 
If negative momentum breaks through the $0.000007071 support level, the next possible support level is $0.000006900. How…
The post <a rel="nofollow" href="https://coinedition.com/bearish-grip-weakens-as-shib-market-shows-signs-of-recovery/">Bearish Grip Weakens as SHIB Market Shows Signs of Recovery</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Bearish Grip Weakens as SHIB Market Shows Signs of Recovery

Coin Edition

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