Shiba

Based

Momentum

Shiba Inu

Coin

<img width="1200" height="675" src="https://coingape.com/wp-content/uploads/2024/02/shiba-inu-SHIB.jpg.optimal-e1708019280683.jpg" class="attachment-full size-full wp-post-image" alt="Shiba Inu Coin Price Analysis: Surge To $0.0001 Imminent As SHIB Burns Bright?" decoding="async" style="float:right; margin:0 0 10px 10px;">
Shiba Inu Coin price analysis: Shiba Inu coin, the cryptocurrency inspired by a popular meme, has showcased an impressive performance in the digital currency market. Its value has risen by 6% in the last day, indicating a move towards recovery after experiencing a 17% decrease over the previous week. The current <a href="https://coingape.com/price/shiba-inu/">Shiba Inu Coin price</a> is $0.00002769, signaling a positive trend for investors. 
<h2 id="strong-shiba-inu-coin-price-analysis-market-momentum-builds-as-shib-gains-strong">Shiba Inu Coin Price Analysis: Market Momentum Builds as SHIB Gains</h2> 
In recent trading, Shiba Inu’s price has shown remarkable resilience. The cryptocurrency’s 24-hour trading volume has slightly decreased by 11% to $2.1 billion. Despite this, its market capitalization stands strong at $16.42 billion, making it the 11th largest cryptocurrency, as per <a rel="nofollow" href="https://coinmarketcap.com/currencies/shiba-inu/">CoinMarketCap</a>. With a circulating supply of approximately 589 trillion SHIB coins, the market dynamics hint at robust investor interest. 
<figure id="attachment_186586" aria-describedby="caption-attachment-186586" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2024/03/Shiba-Inu-Coin-Price-Analysis.png"><img decoding="async" class="wp-image-186586 size-full" src="https://coingape.com/wp-content/uploads/2024/03/Shiba-Inu-Coin-Price-Analysis-e1710774216614.png" alt="Shiba Inu Coin Price Analysis: Surge To $0.0001 Imminent As SHIB Burns Bright?" width="1200" height="554"></a>
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 Shiba Inu Coin Price Analysis
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Over the past month, the value of <a href="https://coingape.com/markets/is-this-the-final-dip-before-shiba-inu-price-surpass-0-00005/">SHIB</a> has fluctuated between $0.000009 and $0.000044. This range indicates a bullish trend, with the coin’s value increasing by over 183%. The price reached a monthly high of $0.000044 before correcting to $0.000024. However, it has since rebounded, maintaining a level around $0.000027 and above. 
<h2 id="strong-the-influence-of-broader-market-trends-on-shiba-inu-coin-strong">The Influence of Broader Market Trends on Shiba Inu Coin</h2> 
Despite a market correction following a drop in Bitcoin’s value below the $70,000 threshold, Shiba Inu has demonstrated its strength. Along with other meme coins like Dogecoin, Pepe, and WIF, SHIB has seen gains buoyed by a general rally in the meme coin sector. 
A significant factor contributing to SHIB’s positive trajectory is the heightened token burn activity, as reported by <a rel="nofollow" href="https://app.intotheblock.com/coin/SHIB">Shibburn</a>. In the last day alone, token burns increased by 2660%, eliminating 186 million SHIB from circulation. Reducing the coin’s available supply has injected optimism into the market, enhancing SHIB’s economic fundamentals. 
<h2 id="strong-shiba-inu-coin-price-prediction-based-on-technical-indicators-strong">Shiba Inu Coin Price Prediction Based On Technical Indicators</h2> 
As investors gear up for potential gains, the <a href="https://coingape.com/markets/shiba-inu-coin-price-analysis-will-recent-surge-surpass-0-0001-mark-by-end-of-march/">SHIB price</a> appears poised to exit its bearish phase. A breakout rally could push the price to $0.0001 and beyond. Conversely, a downturn might revert the price to support levels at $0.00002, with more robust support found at $0.00001 and $0.000009. 
<figure id="attachment_186587" aria-describedby="caption-attachment-186587" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2024/03/SHIBUSD_2024-03-18_17-01-29.png"><img decoding="async" class="size-full wp-image-186587" src="https://coingape.com/wp-content/uploads/2024/03/SHIBUSD_2024-03-18_17-01-29.png" alt="Shiba Inu Coin Price Analysis: Surge To $0.0001 Imminent As SHIB Burns Bright?" width="1154" height="622" srcset="https://coingape.com/wp-content/uploads/2024/03/SHIBUSD_2024-03-18_17-01-29.png 1154w, https://coingape.com/wp-content/uploads/2024/03/SHIBUSD_2024-03-18_17-01-29-300x162.png 300w, https://coingape.com/wp-content/uploads/2024/03/SHIBUSD_2024-03-18_17-01-29-768x414.png 768w, https://coingape.com/wp-content/uploads/2024/03/SHIBUSD_2024-03-18_17-01-29-150x81.png 150w" sizes="(max-width: 1154px) 100vw, 1154px"></a>
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 Shiba Inu Coin Price Analysis|Source: <a rel="nofollow" href="http://Shiba Inu Coin Price Analysis">Tradingview</a>
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The daily technical indicators for SHIB show notable fluctuations, as observed in the trading data from the charts. The Relative Strength Index (RSI) is at 54.53, indicating a neutral position that neither reflects an overbought nor oversold condition. Additionally, the Moving Average Convergence Divergence (MACD) shows a crossover with the signal line above the MACD line, which is often considered a bullish signal.&nbsp; 
The post <a href="https://coingape.com/markets/shiba-inu-coin-price-analysis-surge-to-0-0001-imminent-as-shib-burns-bright/">Shiba Inu Coin Price Analysis: Surge To $0.0001 Imminent As SHIB Burns Bright?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Shiba Inu Coin Price Analysis: Surge To $0.0001 Imminent As SHIB Burns Bright?

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