Shiba

Token

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-faces-stiff-competition-from-dogwifhat-token/" data-wpel-link="internal">Shiba Inu Faces Stiff Competition from Dogwifhat Token</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/shiba-inu-technical-analysis-important-support-and-resistance-levels-2/" data-wpel-link="internal">Shiba</a> Inu (<a href="https://en.coin-turk.com/shiba-inu-coin-gains-momentum-with-positive-price-predictions/" data-wpel-link="internal">SHIB</a>), the second-largest meme token in the market, is facing significant competition from Dogwifhat (WIF) in one aspect. Could this situation lead to a further decline in SHIB’s daily chart, or is there a chance for recovery?</p> 
<h2 id="movement-in-meme-tokens">Movement in Meme Tokens</h2> 
<p style="text-align: justify">The price movement of Shiba Inu has been disappointing since the beginning of March. Despite having only a $4 billion market capitalization, WIF provides significant competition to SHIB, which has nearly four times the market value at $15.7 billion. WIF’s total trading volume in the last 24 hours was about $903 million, while SHIB recorded a volume of $972 million.</p> 
<p style="text-align: justify">This situation indicates that SHIB’s potential is diminishing, and the emergence of WIF is getting the value for its money. A large portion of SHIB is on the verge of loss, and this sentiment could likely extend. More than 77.44 trillion SHIB, worth over $2.52 billion, is close to losing profitability. This supply was purchased between $0.00003100 and $0.00002500, and the <a href="https://coin-turk.com/fiyati-yuzde-90-eridi-ama-halen-en-buyuk-altcoinlerden-biri-alinir-mi" data-wpel-link="internal">altcoin</a> is already close to falling to the lower range.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-336847 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/shib.webp" alt="" width="850" height="373"></p> 
<h2 id="support-line-for-shib">Support Line for SHIB</h2> 
<p style="text-align: justify">The price of Shiba Inu is approaching a drop below $0.00002584 after recording a correction of more than 15% in two days. This support line has been tested many times in the past, making a break quite significant. SHIB could potentially move down to test the support level at $0.00002268. Considering the conditions mentioned above, the decline could extend beyond this critical support level. However, considering the importance of the $0.00002584 support line, the Shiba Inu price could recover and reclaim $0.00002853. If this level is converted to support, the bearish outlook could be invalidated, and SHIB could once again surpass $0.00003000.</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-faces-stiff-competition-from-dogwifhat-token/" data-wpel-link="internal">Shiba Inu Faces Stiff Competition from Dogwifhat Token</a></h5>

Shiba Inu Faces Stiff Competition from Dogwifhat Token

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