Shiba

Convergence

Shiba Inu

Coin

<img width="1280" height="720" src="https://coingape.com/wp-content/uploads/2024/02/shiba-inu-SHIB.jpg.optimal.jpg" class="attachment-full size-full wp-post-image" alt="Shiba Inu Price" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/02/shiba-inu-SHIB.jpg.optimal.jpg 1280w, https://coingape.com/wp-content/uploads/2024/02/shiba-inu-SHIB.jpg.optimal-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/02/shiba-inu-SHIB.jpg.optimal-1224x689.jpg 1224w, https://coingape.com/wp-content/uploads/2024/02/shiba-inu-SHIB.jpg.optimal-768x432.jpg 768w, https://coingape.com/wp-content/uploads/2024/02/shiba-inu-SHIB.jpg.optimal-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2024/02/shiba-inu-SHIB.jpg.optimal-150x84.jpg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
Amid the broader crypto market recovery, Shiba Inu coin secured strong support at $0.0000085, leading to a notable 9% increase to reach a peak of $0.0000096. Despite this uptick, the overall altcoin market experienced a slowdown in momentum due to lingering doubts about Bitcoin’s ability to maintain its position above the $50k threshold. With this uncertainty, the SHIB price is at risk of 4% drop this week but there’s a catch. 
Also Read: <a href="https://coingape.com/blog/doge-and-shib-can-shib-go-as-high-as-doge/">“DOGE And SHIB”: Can SHIB Go as high as DOGE?</a> 
<h2 id="b-will-shib-price-regain-0-00001-in-feb-b">Will SHIB Price Regain $0.00001 in Feb?&nbsp;</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/p/P0UhbDCm.png" alt="BINANCE:SHIBUSDT Chart" width="1946" height="937">
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 Shiba Inu Coin| tradingview
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</figure> 
The past four months’ trajectory in <a href="https://coingape.com/price/shiba-inu/">Shiba Inu price</a> is still bullish under the influence of an ascending trendline. A look at the daily time frame chart shows this memecoin has rebounded at least thrice from this dynamic support indicating a crucial accumulation point for investors.&nbsp; 
The SHIB Price currently trades at $0.00000925 and with an intraday loss of 1.7%, it teases a breakdown below minor support of $0.0000092. This breakdown could plunge the prices by 4.3% to hit the aforementioned support trendline. 
If the demand pressure at this support persists, the Shiba Inu coin witnessed a notable reversal to $0.0000105, projecting a potential gain of 14%. 
Also Read: <a href="https://coingape.com/shib-bone-leash-prices-jump-amid-woofswaps-shibmap-bridging-plan/">SHIB, BONE, &amp; LEASH Prices Jump Amid WoofSwap’s Shibmap Bridging Plan</a> 
<h2 id="b-is-shiba-inu-coin-ready-for-sustainable-growth-b">Is Shiba Inu Coin Ready For Sustainable Growth?</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/m/MQ1GmfLu.png" alt="BINANCE:SHIBUSDT Chart" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Shiba Inu Coin| tradingview
 </figcaption>
</figure> 
An analysis of the broader time frame shows that the <a href="https://coingape.com/markets/shiba-inu-price-prediction-can-shib-rally-to-0-0001-with-shibariums-growing-popularity/">SHIB</a> price is following a steady downtrend under the influence of a falling wedge pattern. This chart setup active for nearly 2 years indicates the asset continues to witness selling pressure on a bullish bounce. 
The anticipated rally to $0.0000105 should provide buyers another opportunity to escape the range of wedge patterns. This breakout will give a better signal for trend change in the Shiba Inu coin. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The long-term <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a>(100 and 200) accentuate the current market trend is sideways.</li> 
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: A bullish crossover between MACD and the signal line indicates the short-term trend is reflecting a positive outlook.</li> 
</ul> 
Related Article: <a href="https://coingape.com/crypto-headlines-of-the-week-bitcoin-solana-shiba-inu-fuels-inferences/">Crypto Headlines of The Week: Bitcoin, Solana, &amp; Shiba Inu Fuels Inferences</a> 
The post <a href="https://coingape.com/markets/key-support-levels-for-shiba-inu-coin-to-ensure-bullish-stance/">Key Support Levels for Shiba Inu Coin to Ensure Bullish Stance</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Key Support Levels for Shiba Inu Coin to Ensure Bullish Stance

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