Shiba

2024

Bitcoin

Shiba Inu

<p>When Bitcoin performs a somersault, its cryptographic colleagues do the same. This has been the case for Shiba Inu, this memecoin that did not fail to light up the dreams of crypto traders at the beginning of March, exchanging at 0.000044 per unit. Currently, this canine token has seen its former value melt away like snow in the sun: financial oracles even predict a tumble below the ominous thresholds.</p>
<h2 id="h-shiba-inu-a-bone-to-chew-for-crypto-traders">Shiba Inu: A Bone to Chew for Crypto Traders?</h2>
<p>Bitcoin, the beacon of cryptos, initiated <strong>a vertiginous drop</strong> yesterday, plummeting to <strong><a href="https://www.cointribune.com/en/bitcoin-falls-below-57000-as-hopes-of-recovery-fade/" target="_blank" rel="noopener noreferrer nofollow">less than 57,000 dollars</a></strong>. And to top it all off, it dragged <strong>in its wake other altcoins</strong>, including Shiba Inu, this crypto that has suffered from <a href="https://www.cointribune.com/en/crypto-shiba-inu-in-free-fall-failed-rebound-raises-fears-of-the-worst/" target="_blank" rel="noopener noreferrer nofollow">a botched rebound</a> since last week.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Shiba Inu is currently at a crossroads, risking a plunge into <a href="https://u.today/is-shiba-inu-shib-on-verge-of-catastrophe" target="_blank" rel="noopener noreferrer nofollow">a critical situation</a>, with the <strong>threat of an imminent selling pressure</strong> that could take it <strong>below the 0.00001 dollar mark.</strong> The support level recently reached at 0.000021 dollars is crucial for its short-term stability, with any drop below this threshold increasing the risk of selling pressure.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" src="https://u.today/sites/default/files/inline-images/image_740.png" alt="SHIB price evolution">
  <figcaption class="wp-element-caption">
   Crypto SHIB price evolution – Source: TradingView
  </figcaption>
 </figure>
</div>
<p>The <strong>100-day exponential moving average</strong> plays a pivotal role in sustaining the price, although it is also closely watched by crypto-traders. Crossing it could <strong>boost buyers’ confidence</strong> or, conversely, <strong>trigger a wave of selling</strong>. If Shiba Inu falls below this EMA, the next major support would be the 200-day EMA.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://join.swissborg.com/r/frederEZU5" target="_blank" rel="noopener noreferrer nofollow">Buy your first cryptocurrencies with Swissborg</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<p>However, the situation becomes critical if the price falls below the 200-day EMA, with the next significant support level much lower, below 0.00001 dollars. Such a scenario would virtually annihilate the bullish trend observed throughout the year 2024 for the SHIB crypto, calling into question the market’s outlook and investors’ optimism towards it.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBEUR","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBEUR","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/SHIBEUR/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">SHIBEUR chart</span></a> by TradingView
 </div>
</div> 
<h2 id="h-towards-new-peaks">Towards New Peaks?</h2>
<p>Shiba Inu is at a crucial crossroads, facing <strong>immediate resistances at 0.0000228 dollars and 0.0000245 dollars</strong>. These levels are short-term targets to maintain its bullish momentum. Crossing them could propel the crypto <strong>into bullish territory</strong>, rekindling investor interest and triggering a rise in prices, thus signaling a revival for the cryptocurrency market as a whole.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://go.primexbt.com/click?pid=8658&amp;offer_id=12&amp;l=1594368336" target="_blank" rel="noopener noreferrer nofollow">Start trading Bitcoin with PRIME XBT</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<p>However, Shiba Inu’s future depends on its <strong>ability to stay above these critical support levels</strong>. A sustained break below 0.000021 dollars could trigger a series of sales, eroding recent gains and negatively affecting investor sentiment towards this crypto.</p>
<p>In sum, while <a href="https://www.cointribune.com/shiba-inu-shib-apocalypse-prevue-en-2030/" target="_blank" rel="noopener noreferrer nofollow">the apocalypse</a> is not for tomorrow, the odyssey towards <a href="https://www.cointribune.com/shiba-inu-shib-a-1-centime-peut-on-en-rever/" target="_blank" rel="noopener noreferrer nofollow">the penny</a> seems just as improbable for SHIB.</p>

The crypto Shiba Inu on the brink of a cliff!

Table of Contents

Cointribune EN

Other articles published on May 2, 2024

Fed Holds Interest Rates Steady, What’s Next?

Axelar (AXL) Price Jumps 14% In Recovery To New All-Time High

Crucial Shytoshi Kusama Warning Sent out to SHIB Community

Meta Stock Price Prediction

Dev Venture Capital Firm Invests in Altcoin: Significant Surge in Coin Value Noted (ALT/USD)

Top Reasons Why Bitcoin is Dumping, What Next For BTC Price

Join our free newsletter for daily crypto updates!