Shiba

Captain

Shiba Inu

mirror

Rekt

The $0.00003 price level has remained a critical point for Shiba Inu in the past few days. A recent market tug-of-war between bulls and bears has seen the meme coin particularly struggling to hold above $0.00003 in the past two days. This has led to uncertainty about the crypto’s direction as we break into a new month as a breakdown below the figure could lead to an extended price reversal.&nbsp; 
However, the majority of SHIB holders continue to <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-climbs-to-second-spot-in-crypto-searches-as-shib-rallies/" target="_blank" rel="noopener ">hold onto bullish sentiment</a> as the cryptocurrency is still doing well in a larger timeframe. This has led to <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-going-to-0-0001/" target="_blank" rel="noopener ">bullish predictions</a> from crypto analysts.&nbsp; 
<h2 id="b-current-state-of-shiba-inu-b">Current State Of Shiba Inu</h2> 
Shiba Inu is currently trading at $0.0000305, up by 1.28% in the past 24 hours. Interestingly, the cryptocurrency’s price movement shows a lackluster action for the majority of the weekend. This saw it falling to as low as $0.00002958 yesterday. 
However, this wasn’t for long, as the cryptocurrency found its way back above $0.00003 in the hours after, signaling the ongoing fight between bulls and bears.&nbsp; 
While the action shows the bulls might be getting tired in the short term, a larger timeframe indicates they might still be having the upper hand. This is because SHIB is still up by 8.60% in the past seven days, reaching as high as $0.00003253 on March 28. 
Similarly, the crypto is still up by 123% in the past 30 days, although it has reversed most of the gain it saw earlier in the month which saw the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-price-skyrockets-heres-why/" target="_blank" rel="noopener ">bulls pushing to</a> $0.00004456 for the first time since December 2021. 
<img loading="lazy" decoding="async" class="aligncenter size-full" src="https://www.tradingview.com/x/0TGsblAB/" width="1835" height="883"> 
<h2 id="b-what-s-next-for-shiba-inu-b">What’s Next For Shiba Inu?</h2> 
Shiba Inu’s bullish momentum might have waned from those witnessed earlier in the month, but some whales have <a href="https://bitcoinist.com/shiba-inu-whales-make-big-moves-is-it-time-to-buy/" target="_blank" rel="noopener nofollow">continued accumulating</a> in anticipation of an uptrend continuation. Crypto analysts have also predicted a bullish surge in the coming weeks. Crypto analyst Captain Faibik noted that SHIB is gearing up for another 2X rally. His prediction is based on a bullish price formation.&nbsp; 
The price chart shared by the analyst shows that SHIB is currently forming a bullish pennant flag pattern. According to Captain Faibik, a breakout of the flag pattern could see Shiba the cryptocurrency surging to $0.000058 in April. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$SHIB</a> <a href="https://twitter.com/hashtag/Shiba?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Shiba</a> another 2x Bullish Rally incoming <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/270d.png" alt="✍" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/srIRdxAfPm" rel="nofollow">pic.twitter.com/srIRdxAfPm</a> 
 — Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1774326259050279391?ref_src=twsrc%5Etfw" rel="nofollow">March 31, 2024</a>
</blockquote> 
Another popular analyst known as Rekt Capital <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-price-mirrors-2021/" target="_blank" rel="noopener ">predicted a similar surge</a> based on history repeating itself. According to him, the current SHIB action could mirror the one in 2021. All it needs to do is <a href="https://x.com/rektcapital/status/1773348594071876010?s=20" target="_blank" rel="noopener nofollow">just break above a major resistance</a> at $0.0000332 before going on a strong uptrend. 
Featured image from Pexels, chart from TradingView

Shiba Inu Dips Below $0.00003 Again – Can Bulls Reverse The Bullish Momentum?

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