Shiba

Shiba Inu

<ul>
 <li>Shiba Inu faces a 35% decrease in trading volume.</li>
 <li>Bulls must surpass $0.0000270 for a bullish market structure.</li>
</ul>
Shiba Inu (SHIB) has been making waves, but recent days have seen a significant downturn, leaving investors on edge. The <a href="https://thenewscrypto.com/memecoins-in-turbulent-waters-what-traders-need-to-know/" rel="noopener noreferrer nofollow">memecoin</a> experienced a notable dump, hitting a 7-day low of $0.00002266, with a staggering 35% decrease in trading volume.
Analyzing the technical indicators, the daily Relative Strength Index (RSI) stands at 48, reflecting a delicate balance between bullish and bearish sentiment. Over a month, SHIB has suffered a 23% decline, despite a marginal 7% increase in the past week.
Bulls face a formidable challenge, needing to surpass a double roadblock and decisively reclaim levels above $0.0000270 to establish a bullish market structure. Should they succeed, the immediate target lies at $0.000031.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/NpvwKW-yzv6wWT0WayKVNOh389TXyzre5MKRqQRjuKIu2ViJGmSqizJ3cPx0qP5OoyOefUZF_hxvLWk0EiJMI6s4pp7eib1ObNT8_fKTAZ44dJ5ZOOg15ahu50gbwQjFcW54h6Azy5zmRJztDvDEscc" alt="">
 <figcaption class="wp-element-caption">
 SHIB Price Chart, Source: TradingView
 </figcaption>
 </figure>
</div>
However, failure to overcome this hurdle could spell further trouble, potentially dragging SHIB back to $0.0000225. Sentiment analysis, as indicated by <a href="https://twitter.com/santimentfeed" rel="noopener noreferrer nofollow">Santiment</a> data, paints a bleak picture, with negativity prevailing and a rise in bearish bets against <a href="https://thenewscrypto.com/shiba-inu-shib-price-prediction/" rel="noopener noreferrer nofollow">SHIB</a>‘s price.
Moreover, there’s been a noticeable increase in sell-pressure, evidenced by a decline in the Supply on Exchanges metric.&nbsp;
In conclusion, Shiba Inu finds itself at a crossroads, with investors closely monitoring its trajectory amidst prevailing <a href="https://in.tradingview.com/symbols/SOLUSDT/" rel="noopener noreferrer nofollow">bearish</a> sentiment and mounting sell pressure. The road ahead remains uncertain, with bulls seeking to defy the odds and reclaim lost ground, while bears stand poised to capitalize on any weakness.

SHIB Hits 7-Day Low: What Investors Need to Know Further?

TheNewsCrypto

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