<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/senior-crypto-trader-suggests-btc-may-repeat-2018-pattern-as-meme-coins-dip/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Senior Crypto Trader Suggests BTC May Repeat 2018 Pattern as Meme Coins Dip</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/kidemli-kripto-trader-btc-2018-yilindaki-hareketini-tekrar-ediyor-kripto-paralar-yukselecek-mi" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency</a> markets’ ongoing correction trend has notably affected leading meme tokens such as <strong><a href="https://coin-turk.com/vakit-geldi-dogecoin-alinir-mi-guncel-doge-yorumlari" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a> (<a href="https://coin-turk.com/uzun-vadeli-bakildiginda-bu-saka-coin-meydan-okuyor" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>),</strong> <a href="https://en.coin-turk.com/shiba-inus-rising-popularity-and-token-burn-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu (<a href="https://en.coin-turk.com/shiba-coin-price-prediction-what-lies-ahead-for-investors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SHIB</a>), Pepe Coin (PEPE), and BONK. Experts suggest a steep correction may be expected as the recent rally left this class of tokens in an overbought zone.</p>
<h2 id="resistance-levels-in-shib">Resistance Levels in SHIB</h2>
<p style="text-align: justify">The popular meme token Shiba Inu’s price drop could indicate a decline below the $61.8 Fibonacci retracement level, signaling the threat of further losses. Shiba Inu, the second-largest meme cryptocurrency, has been under a correction trend for the past three weeks, with its price dropping by 43% from $0.000045 to $0.0000259. On the daily chart, this retracement can be tracked using a downward trend line that serves as dynamic resistance for buyers. The overall supply has already pushed the SHIB price below the 50% retracement level, which could be a sign reflecting weakening bullish momentum.</p>
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-331997 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/shib-1.jpg" alt="" width="1162" height="383"></p>
<h2 id="long-term-outlook-for-shib">Long-Term Outlook for SHIB</h2>
<p style="text-align: justify">In contrast, long-term investors who have held their tokens for over a year have reduced their holdings by 9.07%. This exit from the long-term holders could create higher selling pressure for SHIB and the potential for breaking another support level. Therefore, if sellers surpass the 61.8% FIB base at $0.00002376, the SHIB price could drop to $0.00001812 by the end of March. However, if the Shiba Inu price breaks the general trend line, a renewed recovery potential could emerge.</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/senior-crypto-trader-suggests-btc-may-repeat-2018-pattern-as-meme-coins-dip/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Senior Crypto Trader Suggests BTC May Repeat 2018 Pattern as Meme Coins Dip</a></h5>

Senior Crypto Trader Suggests BTC May Repeat 2018 Pattern as Meme Coins Dip

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