• Shiba Inu (SHIB) has fallen to trade at $0.00001235, due to regulatory pressure.
• SHIB’s short-term outlook reveals the possibility of a trend reversal in the coming days.
• Investors should be ready to buy and hold SHIB if support at $0.000012 continues to stay firm.
Shiba Inu Price Prediction
The second most popular meme coin, Shiba Inu (SHIB) has recently experienced a sharp decline from its 2023 high of $0.00001590 to currently trade at $0.00001225 due to increasing regulatory pressure in the crypto market. However, there is a potential for a short-term trend reversal if the current support level at $0.000012 holds firmly.
Listing on BinanceUS
On February 24th, SHIB was listed on BinanceUS – a subsidiary of Binance, the largest crypto exchange in the world by daily traded volume – which allows US-based customers to buy and sell SHIB using the SHIB/USD pair. Despite this exposure, investors were left disappointed with Shiba Inu price continuing its downward trajectory after listing on BinanceUS.
Currently, SHIB remains above critical support provided by a lower ascending trend line and 50-day Exponential Moving Average (EMA), as well as a seller congestion zone located in the lower yellow band as shown on daily charts. The position of Stochastic oscillator is also close to oversold region, suggesting that Shiba Inu price may soon exhaust its current pullback and be ready for recovery if support at $0.000012 holds firmly..
Possibility of Price Recovery
Investors should keep an eye out for any positive price movements that could suggest that Shiba Inu is beginning to recover from its recent losses and continue back up towards its all-time high prices again in order to make profits from trading or holding it long term..
It appears that Shiba Inu may have reached bottom range levels with potential for a short term trend reversal if support at $ 0 . 000012 can stay firm against further bearish pressure caused by regulatory issues across cryptocurrency markets.. As such investors should take advantage of this opportunity with caution while monitoring future market developments closely.