Shiba

April

Shiba Inu

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<p dir="ltr">Shiba Inu made a play toward recovery at the close of trading on April 3, but the bearish siege overwhelmed every attempt to sustain a rally. After jumping as high as 4% in intraday trading, Shiba Inu is currently changing hands for $0.00002651,&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">down</a> by 2.18% in the past 24 hours.</p>
<h2 id="shiba-inu-price-floor">Shiba Inu price floor</h2>
<p dir="ltr">With the instability Shiba Inu is showcasing, market observers are now in search of the price floor upon which the digital currency can finally plot a rebound. Over the past seven days, the $0.000026 price mark has served as the token’s formidable support level, with three major rebounds at this point.</p> <img data-entity-type="file" data-entity-uuid="57fcb86b-20c8-4a0a-afd3-0a4417440629" src="https://u.today/sites/default/files/inline-images/SHIB_7D_graph_coinmarketcap.jpg">Shiba Inu 7-Day Chart. Source: <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
<p dir="ltr">When zoomed out to the monthly growth trend, the new support level now comes in at $0.000024. Despite this visible price slip, SHIB is trading above this price level. This implies the meme coin still has a slight retracement gap before hitting its price floor.</p>
<p dir="ltr">The current trend is, however, essential for Shiba Inu, as a defined consolidation phase is essential to help it break the $0.00003 resistance point once and for all. To achieve this feat, Shiba Inu will need to rely on&nbsp;<a href="https://u.today/shiba-inu-shib-whales-move-massive-61-trillion-tokens-in-24-hours" rel="noopener noreferrer nofollow">the strength of its whales</a>.</p>
<p dir="ltr">Additionally, the token will need to muster the benefits in its core ecosystem metrics, like the&nbsp;<a href="https://u.today/shib-burns-spike-almost-100-as-price-on-verge-of-breakout" rel="noopener noreferrer nofollow">burn rate,</a> to chart a bullish path forward.</p>
<h2 id="broader-market-sentiment-impact">Broader market sentiment impact</h2>
<p dir="ltr">As a volatile cryptocurrency, Shiba Inu’s slow-paced growth hinges on the general trend of the market. With Bitcoin’s price still down by 5.93% over the trailing seven-day period to $66,205, the market has been left in limbo, casting a gloomy outlook on what comes next.</p>
<p>For Shiba Inu, its reliance on community strength and the prospects of its&nbsp;<a href="https://u.today/shiba-inu-eyes-abnormal-825-surge-in-shibariums-key-metric" rel="noopener noreferrer nofollow">Shibarium</a> protocol has kept buyers locked in with a move to buy the dip.</p>

Shiba Inu (SHIB) Rebound Attempt Just Suffered Another Blow

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