Shiba

Shiba Inu

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-coin-faces-persistent-market-challenges/" data-wpel-link="internal">Shiba Coin Faces Persistent Market Challenges</a><br></p>
<p style="text-align: justify">The second-largest meme coin by market value has been significantly affected by the prolonged market downturn. Every attempt ends in failure, primarily due to issues negatively impacting its mid-term outlook. Will the 9-week nightmare for <strong><a href="https://en.coin-turk.com/shiba-inu-price-faces-critical-support-level/" data-wpel-link="internal">Shiba</a> Coin</strong> come to an end? What do the current data tell us?</p> 
<h2 style="text-align: justify" id="shiba-coin-shib">Shiba Coin (SHIB)</h2> 
<p style="text-align: justify">At the time of writing, the <strong>Shiba Coin price</strong> continues the day with a 5% loss. This is due to Powell’s recent comments that the tight monetary policy might remain at its peak for a longer period. The <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">Fed</a> has two ways to combat inflation: either increase <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">interest rates</a> further or delay reducing high interest rates. Both are bad for crypto, and it is uncertain how long the US economy can manage this strained process.</p> 
<p style="text-align: justify">Returning to Shiba Coin, the steady decline in active deposits is noteworthy. This tracks the transfer intensity from self-custody wallets to exchange addresses. An increase in this indicator signals potential sales pressure due to more tokens being moved to exchanges, indicating upcoming large sales pressures.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class=" wp-image-351371 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/shiba-Coin-14-mayis-1-.png" alt="" width="1320" height="430"></p> 
<p style="text-align: justify">The metric, which has reached its lowest level in recent weeks, indicates that <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> are currently less willing to sell. Additionally, the sales by risk-averse investors in recent weeks were already intense, and those remaining are now observing what will happen.</p> 
<h2 style="text-align: justify" id="shiba-coin-price-prediction">Shiba Coin Price Prediction</h2> 
<p style="text-align: justify">The current price of <strong>Shiba Inu</strong> hovering at $0.0000238 is above a key support level. The nearest support level is at $0.0000209, which has been a strong barrier against the bears for some time. If Shiba Coin can turn the $0.0000258 region, just above its current level, into support, it is possible to test the $0.00002835 resistance. If this is surpassed, the price, which has been stuck for some time, could sail to new highs.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-351372 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/shiba-Coin-14-mayis-2.png" alt="" width="1298" height="556"></p> 
<p style="text-align: justify">On the other hand, if the key support level is lost, volatility will increase, disappointing investors. In case of excessive sales, the $0.0000147 support could be tested. A failed attempt towards resistance could keep the price consolidated in the narrow range mentioned earlier for a longer period.</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-coin-faces-persistent-market-challenges/" data-wpel-link="internal">Shiba Coin Faces Persistent Market Challenges</a></h5>

Shiba Coin Faces Persistent Market Challenges

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