Shiba Inu

<ul><li>Shiba Inu&#39;s price drop below key support levels reflects the broader cryptocurrency downturn and aligns with altcoin market trends.</li><li>Despite the bullish pennant pattern&#39;s promise of potential gains, Shiba Inu&#39;s value plummeted due to high market volatility.</li><li>Industry experts maintain a positive outlook on Shiba Inu, speculating a recovery to significantly higher price points post-market correction.</li></ul>Shiba Inu (SHIB) has experienced significant fluctuations, aligning with the broader altcoin market trends. Since April 8, a downturn has gripped the crypto market, leading to notable price declines across various digital currencies. Shiba Inu, a popular meme coin, has not been spared. It has witnessed a drop below critical support levels, with its value currently trading around <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">$0.000022</a>.On April 9, MBM Crypto, a renowned market analyst, identified a <a href="https://www.tradingview.com/chart/SHIBUSDT/6M4OIFoS-SHIB-forming-a-Massive-Bull-Pennant-Formation/" rel="noopener noreferrer nofollow">bullish pattern</a> which caused the descent. Shiba Inu had experienced a drop to $0.000045 on March 5 but later formed a bullish pennant on the 6-hour chart, which indicated the possibility of upward movements. This pattern remained consistent for five weeks but failed to break out upwards due to mounting market pressures.Initially, MBM Crypto had posited that an upward breakout might occur if the market correction subsided, suggesting a target entry price of $0.0000301 for investors. He predicted this level could catalyze a move past the <a href="https://cryptotale.org/analyst-charts-a-balanced-path-cryptocurrency-market-stabilizes-at-neutral-rsi/" rel="noopener noreferrer nofollow">upper trendline</a> of the pennant. The analyst set subsequent price targets at $0.0000313, $0.0000328, and $0.0000348, which corresponded to the high from March 14.<a href="https://cryptotale.org/shiba-inu-faces-market-turbulence-analysts-predict-potential-rebound/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Shiba Inu Faces Market Turbulence: Analysts Predict Potential Rebound

CryptoTale

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