- SHIB’s price has surged by 3% in the last 14 days, catching the attention of crypto enthusiasts.
- Currently, SHIB is trading near a key resistance level at $0.00000749, hinting at a potential upward move.
- Ongoing sideways trading in the range of $0.00000730-$0.00000760 is expected in the short term.
The cryptocurrency market is buzzing with excitement as Shiba Inu (SHIB) recently experienced a remarkable 3% price surge over the past 14 days. This surge has captured the attention of investors and traders alike, prompting speculation about the future of this popular meme coin.
Currently, SHIB is trading in close proximity to a significant local resistance level at $0.00000749. Analysts are closely watching if the daily closing price will breach this level, as it could potentially trigger an upward move towards the $0.0000076 range in the coming days.
However, the cryptocurrency market remains in a state of flux, with neither the bulls nor the bears showing a decisive edge. This sentiment is reinforced by the falling trading volume, indicating a lack of conviction from either side. As a result, experts suggest that SHIB is likely to consolidate within the range of $0.00000730 to $0.00000760 in the short term.
Taking a broader perspective, SHIB has not strayed far from its support level at $0.0000069, which suggests that a midterm reversal may not be imminent. Consequently, investors and traders should prepare for continued sideways trading between the levels of $0.000007 and $0.000009, with this trend expected to persist until mid-October.
As the crypto community closely monitors SHIB’s price movements, the future of this meme coin remains uncertain yet intriguing. Traders are advised to exercise caution and conduct thorough research before making any investment decisions in this dynamic market.
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