Shiba

Cryptocurrency

Pepe

Shiba Inu

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-cryptocurrency-experiences-price-correction/" data-wpel-link="internal">Shiba Inu Cryptocurrency Experiences Price Correction</a><br></p>
<p style="text-align: justify">The second-largest meme cryptocurrency, <strong><a href="https://en.coin-turk.com/shiba-inu-price-climbs-to-22-month-high/" data-wpel-link="internal">Shiba</a> Inu (<a href="https://en.coin-turk.com/will-shib-reach-0-01-analyzing-the-possibility/" data-wpel-link="internal">SHIB</a>),</strong> started a corrective trend after its price retracted from the $0.000045 level in the second week of February. The change in the meme token occurred as <a href="https://coin-turk.com/ordinals-tokenlari-bitcoin-agindaki-hakimiyetini-surduruyor" data-wpel-link="internal">Bitcoin</a> prices fell below $70,000, followed by a 47% drop in Shiba Inu, marking it down to $0.0000238.</p> 
<h2 id="the-rise-of-meme-tokens">The Rise of Meme Tokens</h2> 
<p style="text-align: justify">The mentioned decline indicates a potential drop below the 50% retracement level, which could suggest the token is preparing for further declines. Amidst the February-March recovery trend in the cryptocurrency market, Shiba Inu, along with tokens like <strong><a href="https://coin-turk.com/deger-artisi-yuzde-20yi-asti-yukselislere-hiz-kesmeyen-altcoin-kritik-seviyeyi-asti" data-wpel-link="internal">Dogecoin</a>,</strong> Pepe Coin, and Bonk, witnessed triple-digit gains, making cryptocurrencies the better-performing sector.</p> 
<p style="text-align: justify">From the lowest level at the end of February at $0.00000935, SHIB’s price showed an approximate 388% increase to $0.0000456. However, the extended rally, combined with a new correction in <strong><a href="https://en.coin-turk.com/bitcoins-remarkable-resemblance-to-2020-suggests-a-potential-rally/" data-wpel-link="internal">Bitcoin</a></strong> prices, triggered a notable pullback in Shiba Inu. This pullback can be tracked using a downward trend line that acts as dynamic resistance against buyers. With an intraday gain of 7.83%, Shiba Inu’s price rose to $0.00002745 and may prepare for another breakout attempt from the general trend line at the $0.00003 level.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-329403 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/sHIB.png" alt="" width="1946" height="937"></p> 
<h2 id="price-analysis-of-shib">Price Analysis of SHIB</h2> 
<p style="text-align: justify">This level is crucial for investors as a reversal or breakout from the trend line could significantly affect Shiba Inu’s near-future movement. A potential reversal from the resistance trend line could extend the Shiba Inu correction to $0.0000215. With the recent price increase, SHIB is attempting to reclaim its position above the 50% retracement level.</p> 
<p style="text-align: justify">Sustainability of the price above this level could indicate that meme token buyers still have a strong hold on this token and could provide a suitable entry opportunity for newcomers. An upward potential breakout would signal the continuation of the recovery trend and offer buyers the chance to surpass the recent high of $0.000045 and exceed the $0.00005 milestone.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/shiba-inu-cryptocurrency-experiences-price-correction/" data-wpel-link="internal">Shiba Inu Cryptocurrency Experiences Price Correction</a></h5>

Shiba Inu Cryptocurrency Experiences Price Correction

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