Shiba

Rally

Pepe

Bitcoin

Shiba Inu

<img width="1400" height="785" src="https://coingape.com/wp-content/uploads/2024/02/1_KTcM8PEH9fEYN7MvIJnxEg-1.png" class="attachment-full size-full wp-post-image" alt="Shiba Inu:" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/02/1_KTcM8PEH9fEYN7MvIJnxEg-1.png 1400w, https://coingape.com/wp-content/uploads/2024/02/1_KTcM8PEH9fEYN7MvIJnxEg-1-300x168.png 300w, https://coingape.com/wp-content/uploads/2024/02/1_KTcM8PEH9fEYN7MvIJnxEg-1-1224x686.png 1224w, https://coingape.com/wp-content/uploads/2024/02/1_KTcM8PEH9fEYN7MvIJnxEg-1-768x431.png 768w, https://coingape.com/wp-content/uploads/2024/02/1_KTcM8PEH9fEYN7MvIJnxEg-1-678x381.png 678w, https://coingape.com/wp-content/uploads/2024/02/1_KTcM8PEH9fEYN7MvIJnxEg-1-150x84.png 150w" sizes="(max-width: 1400px) 100vw, 1400px">
Shiba Inu Price: The Bitcoin price reversal from the new All time high of $69000 has weakened recovery momentum in the broader market. The overhead supply sparked fresh corrections in altcoins including the popular meme coin <a href="https://coingape.com/trending/shiba-inu-price-dips-is-the-bull-run-over-for-shiba-inu/" rel="noopener noreferrer nofollow">Shiba inu</a>. In the last four days, the SHIB price witnessed a drop from $0.0000456 to $0.0000292 accounting for a 35% drop. Will this correction prolong in March or buyers take control again?
Also Read: <a href="https://coingape.com/shiba-inu-shibs-2-tln-move-sparks-speculations-price-to-reach-0-0001/" rel="noopener noreferrer nofollow">Shiba Inu: SHIB’s 2 Tln Move Sparks Speculations, Price To Reach $0.0001?</a>
<h2 id="b-shiba-inu-s-new-address-surge-highlights-investor-confidence-b">Shiba Inu’s New Address Surge Highlights Investor Confidence</h2>
<img decoding="async" src="https://s3.tradingview.com/snapshots/h/Hh2Gp3fM.png" alt="BINANCE:SHIBUSDT Chart Image by sahilmahadik07">The last two weeks have been a blessing for meme holders as the sector outperformed the broader market with a robust recovery trend. The meme cryptocurrencies like Dogecoin, Shiba Inu, Pepe Coin, Bonk, and Floki witnessed triple-digit gains marking a notable change in the market dynamics.
<blockquote>
 The second largest memecoin Shiba Inu jumped from $0.00000934 to $0.0000456, registering a growth of 389%. However, with the Bitcoin price reverting from $69000, the <a href="https://coingape.com/trending/shiba-inu-price-gains-momentum-as-shib-futures-oi-reaches-112-mln/" rel="noopener noreferrer nofollow">SHIB</a> price witnessed a temporary pullback to hit $0.00003.
</blockquote>
According to the latest data from the cryptocurrency analytics firm IntoTheBlock, Shiba Inu has had a dynamic start to March, seeing a sharp increase in activity with more than 8,400 new addresses created each day.&nbsp;
The peak activity saw as many as 21,000 new daily addresses, marking a nearly twentyfold rise from the daily average recorded in February. This uptick signals a growing interest and engagement within the Shiba Inu community.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Shiba Inu kicks off March with a bang, attracting over 8.4k new addresses daily &amp; peaking at 21k new daily addresses – nearly 20x February's daily average. <a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ShibaInu</a> <a href="https://twitter.com/hashtag/SHIBARMY?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIBARMY</a> <a href="https://t.co/5hXvKfqfio" rel="noopener noreferrer nofollow">pic.twitter.com/5hXvKfqfio</a>
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1765678131619275072?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 7, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Also Read: <a href="https://coingape.com/markets/shiba-inu-coin-price-forecast-shibs-climb-to-0-0001-imminent-amidst-meme-coins-rally/" rel="noopener noreferrer nofollow">Shiba Inu Coin Price Forecast: SHIB’s Climb To $0.0001 Imminent Amidst Meme Coins Rally?</a>
<h2 id="b-healthy-retracement-hints-shiba-inu-price-rally-to-0-00005-b">Healthy Retracement Hints Shiba Inu Price Rally to $0.00005?</h2>
An analysis of the daily time frame chart shows the <a href="https://coingape.com/price/shiba-inu/" rel="noopener noreferrer nofollow">Shiba Inu price</a> rebounded from the $0.00003 support with a morning star candle. This reversal pattern after a healthy retracement bolsters buyers to recuperate the exhausted bullish momentum and return on the recovery trend. The post-correction rally may prolong the recovery trend to $0.00004, followed by $0.000054
<h2 id="b-technical-indicator-b">Technical Indicator:</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">Bollinger Band: Despite the overhead supply, the rising upper boundary of the <a href="https://coingape.com/education/bollinger-band/" rel="noopener noreferrer nofollow">Bollinger band</a> indicator indicates the buyers are the key driving force of the current price momentum</li>
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX rising at 55% hints the SHIB price would need a minor pullback to regain strength.</li>
</ul>
The post <a href="https://coingape.com/markets/will-shiba-inu-price-rally-surpass-0-00005-barrier-in-march/" rel="noopener noreferrer nofollow">Will Shiba Inu Price Rally Surpass $0.00005 Barrier in March?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Will Shiba Inu Price Rally Surpass $0.00005 Barrier in March?

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