Shiba

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Shiba Inu

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/shiba-inu-faces-market-hurdles" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Faces Market Hurdles</a><br></p>
<p style="text-align: justify">Shiba Inu, unlike other major cryptocurrencies that saw significant gains recently, has struggled to increase in value. SHIB <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> are anxiously awaiting a profitable surge, which hinges on the <a href="https://en.bitcoinhaber.net/record-breaking-surge-for-bitcoin-leads-to-memecoin-market-rally" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> breaking out of its current consolidation phase. The coin needs to overcome significant barriers to achieve this desired price hike.</p>
<h2 id="what-challenges-lie-ahead-for-shiba-inu">What Challenges Lie Ahead for Shiba Inu?</h2>
<p style="text-align: justify">To escape its consolidation, Shiba Inu must deal with approximately 60.14 trillion SHIB, valued over $1.54 billion, bought between $0.00002500 and $0.00003000. According to Global In/Out of the Money (GIOM) data, the memecoin needs a 19% increase from its current trading price to provide gains for investors. This will require robust support from both investors and positive market indicators.</p>
<p style="text-align: justify">Investor confidence in SHIB’s rise is waning, as evidenced by their willingness to sell assets at any sign of profit. Currently, only about 20% of active addresses on the network show profitability. This behavior indicates a focus on short-term gains, which could hinder the memecoin’s price recovery and lead to continued consolidation.</p>
<h2 id="analyzing-the-shib-chart">Analyzing the SHIB Chart</h2>
<p style="text-align: justify">In the past month, Shiba Inu’s price has fluctuated between resistance and support levels of $0.00002584 and $0.00002267. Despite multiple attempts, SHIB has not managed to break out in either direction. Moving forward, the memecoin might fall back to test the $0.00002267 support level and then rise again within this range.</p>
<p style="text-align: justify">A breakout or breakdown from these levels will disrupt the current consolidation pattern. An upward move could push SHIB’s price to $0.00002835, while a downward trend may drive the price down to $0.00002093. Investors should keep an eye on Ethereum’s movements during this period, as they might influence SHIB’s trajectory.</p>
<h2 id="investment-insights">Investment Insights</h2>
<p style="text-align: justify"><strong>Key Considerations for Investors:</strong></p>
<ul>
 <li>Monitor SHIB’s price movements for potential breakout or breakdown signals.</li>
 <li>Keep track of Ethereum’s performance, as it may impact SHIB.</li>
 <li>Consider the high volume of SHIB purchased at key price points when evaluating investment decisions.</li>
 <li>Be cautious of short-term profit-taking behavior among other investors.</li>
</ul>
<p style="text-align: justify">In conclusion, Shiba Inu faces significant challenges in achieving a price increase amid a volatile market. Investor behavior and market signals will play crucial roles in determining the memecoin’s <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> performance.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/shiba-inu-faces-market-hurdles" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Faces Market Hurdles</a></h5>

Shiba Inu Faces Market Hurdles

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