- Shiba Inu has experienced a notable surge, aiming to breach the $0.00001 level to eliminate a zero from its price.
- A significant challenge lies at the 151 trillion SHIB level, presenting a formidable resistance zone for SHIB’s price advancement.
- With Bitcoin and Ethereum reaching new highs, the crypto market’s momentum could potentially bolster SHIB’s price in the near future.
Shiba Inu (SHIB) has emerged as a focal point of attention recently, experiencing a surge in value over the past week. This surge has propelled SHIB to challenge the $0.00001 threshold, a significant milestone that could signify the removal of a zero from its price.
Read CRYPTONEWSLAND on
google news
However, amidst this upward momentum, SHIB faces a formidable obstacle in the form of the 151 trillion SHIB level, which poses a substantial resistance zone for its price trajectory. This level represents a critical juncture where a large number of investors may be inclined to sell their holdings, potentially dampening SHIB’s upward momentum.
Despite this challenge, there is optimism within the crypto community, fueled by the recent bullish trends in the broader market. Both Bitcoin and Ethereum have reached new highs, injecting further enthusiasm into the cryptocurrency space.
This bullish sentiment could serve as a tailwind for SHIB, potentially aiding its quest to overcome the 151 trillion SHIB barrier. Investors and enthusiasts alike are closely monitoring SHIB’s progress, eagerly anticipating whether it can surmount this obstacle and embark on a new phase of price appreciation.
Based on CoinCodex’s latest forecast, Shiba Inu’s price is expected to decline by approximately 6.22%, reaching $0.0005902 by February 22, 2024. Technical indicators suggest a neutral sentiment, although the Fear & Greed Index reflects extreme greed at 76.
Read also:
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
