Can Shiba Inu Holders Expect Short-Term SHIB Rally Anytime Soon?

Can Shiba Inu Holders Expect Short-Term SHIB Rally Anytime Soon?

SHIB

The post Can Shiba Inu Holders Expect Short-Term SHIB Rally Anytime Soon? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The crypto market volatility has paused most of the cryptocurrencies bull run be it Bitcoin, altcoins like Ethereum, NFTs, or even meme coins like Dogecoin or Shiba Inu.

Shiba Inu (SHIB) has slipped down towards 12th position after the currency failed to pick up the bull run. Even the basic use cases of Shiba Inu have reached near to zero.

However, it is expected that Shiba Inu will try to get into a recovery phase once again as the earlier price drop was not that critical as predicted. The meme currency has now plunged into increasing price action and since then the currency is slightly moving towards north.

Yesterday, on August 25th Shiba Inu’s SHIB saw an increase in its price movement as it gained more than 14% indicating recovery. However, as soon as the currency hit the target of $0.00001500, traders were quick enough to pull back the bull run.

This momentum forced SHIB to plunge and saw the local support level before the 50-day moving average. While the top cryptocurrencies like Bitcoin and Ethereum are not finding their positive movement, it’s difficult to predict Shiba Inu’s future price action. 

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