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<ul> 
 <li>Shiba Inu stood out with a 4% surge amid a week of crypto losses.</li> 
 <li>Increased buying pressure and reduced exchange supply drove SHIB’s recent rise.</li> 
 <li>Despite bullish sentiment, indicators hint at a potential 6.24% drop for Shiba Inu by December 23, 2023.</li> 
</ul> 
Shiba Inu (SHIB) has witnessed a remarkable 4% surge in its value despite the sea of red across the cryptocurrency market. While most digital assets experienced a downturn in the past week, <a href="https://coinmarketcap.com/currencies/shiba-inu/">SHIB</a> chose a different trajectory, demonstrating a bullish stance. 
Analyzing the factors behind this surge reveals a distinctive pattern. The surge in SHIB’s value was buoyed by an evident increase in buying pressure coupled with a reduction in its supply on exchanges.&nbsp; 
Reports from <a href="https://app.santiment.net/charts?settings=%7B%22slug%22%3A%22shiba-inu%22%2C%22ticker%22%3A%22SHIB%22%2C%22from%22%3A%222023-06-19T19%3A59%3A59.035Z%22%2C%22to%22%3A%222023-12-19T19%3A59%3A59.035Z%22%7D&amp;widgets=%5B%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%2326C953%22%5D%7D%5D">Santiment</a> highlighted this intriguing dynamic. While the supply on exchanges dwindled, the supply outside of exchanges saw a slight uptick. This created a scenario where the demand for the meme coin soared, contributing significantly to its upward trajectory. 
However, technical analysis indicates a potential bearish correction looming on the horizon. According to CoinCodex’s <a href="https://coincodex.com/crypto/shiba-inu/price-prediction/">Shiba Inu price prediction</a>, the meme coin might face a downward slide of approximately 6.24% and reach $0.059421 by December 23, 2023. This projection casts a shadow over SHIB’s otherwise resilient performance. 
As the crypto community watches with anticipation, the current sentiment remains relatively bullish. The Fear &amp; Greed Index sits at 65 (Greed), signifying an optimistic outlook. Despite this, caution prevails as indicators hint at a potential correction, despite Shiba Inu’s recent commendable surge amidst a broader crypto downturn. The stage is set for a critical juncture as SHIB navigates the volatility of the market in the final stretch of 2023. 
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The post <a href="https://cryptonewsland.com/shiba-inu-bucks-trend-surges-over-4-amidst-crypto-slump/">Shiba Inu Bucks Trend: Surges Over 4% Amidst Crypto Slump</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

Shiba Inu Bucks Trend: Surges Over 4% Amidst Crypto Slump

Crypto News Land

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