Shiba Inu Faces Tough Resistance, Risk Of Uncharted Lows – Here’s Why
2023年5月17日 - 6:37PM
NEWSBTC
Shiba Inu (SHIB) has been experiencing a tumultuous journey in the
crypto market since its inception in August 2020. However, the past
few weeks have been particularly eventful for SHIB holders, as the
coin has been struggling to break past a crucial resistance level,
known as the “Death Line.” This foreboding term was coined by SHIB
enthusiasts to refer to the critical resistance level at $0.000008.
The level has been a significant hurdle for the meme coin to cross
since early May, and it has made several attempts to break past it,
only to face rejection each time. This resistance level has
caused considerable anxiety among SHIB holders and traders, who are
now closely monitoring the coin’s movements to see if it can
finally overcome the dreaded line and push towards a new all-time
high. Related Reading: Power Play: Top 5 Cryptos Set To Ignite The
Week With Decent Gains Shiba Inu Faces Market Pressure Amid ‘Death
Line’ Fears Shiba Inu has been grappling with market pressure in
recent weeks, with its CoinGecko price hovering at a meager
$0.00000878 and experiencing a stagnant 24-hour change of 0.8%.
Over the past seven days, SHIB has seen a 1.9% decrease in value,
struggling to break free from the grips of the recent slump.
Source: Coingecko The SHIB token faces significant challenges, with
the existence of the “Death Line” looming ominously over its
future. The term refers to a crucial resistance level at $0.000008,
which the token has been unable to breach despite repeated
attempts. The failure to overcome this barrier could potentially
cause the token’s price to plummet to $0.000007, marking a severe
setback for SHIB and its holders. #Bitcoin #Cryptonews #Ethereum
#BTC #Crypto #Blockchain Shiba Inu’s (SHIB) ‘Death Line’ Might
Cause True Horror on Market https://t.co/xXo8RIXBRC
pic.twitter.com/qPgwLqt1Ba — CryptoverseEu (@Cryptoverse_Eu) May
16, 2023 Furthermore, despite reaching a solid support level at
around $0.000008, SHIB’s price is under considerable pressure from
the market. If the token fails to maintain its position above the
support line, a significant price correction could ensue. SHIB
currently has a market cap of $5.27 billion. Chart: TradingView.com
Related Reading: Not So Covert: The Secret Service Owns Crypto And
Promotes NFTs, And – Why Not? Analyzing Potential Downturn Several
factors hold sway over the trajectory of the Shiba Inu token and
the wider crypto market. Market sentiment, for instance, plays a
significant role. The emotions, opinions, and attitudes of
investors can greatly impact the demand and value of
cryptocurrencies. Positive sentiment can fuel bullish trends
and drive prices upward, while negative sentiment can trigger
sell-offs and result in a bearish market. Technical analysis
indicates the possibility of a downturn in the crypto market, but
it’s crucial to recognize the ever-present volatility that
characterizes this realm. Despite the indications, it is important
to acknowledge that nothing is definitive in this unpredictable
landscape. -Featured image from iStock
SHIBA INU (COIN:SHIBUSD)
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SHIBA INU (COIN:SHIBUSD)
過去 株価チャート
から 4 2023 まで 4 2024