While Shiba Inu Begins The Recovery Phase, Half A Billion SHIB Gets Locked! How Will This Impact SHIB Price

In the midst of the cryptocurrency market crash, the Dogecoin killer, Shiba Inu has also declined by 8% in the last seven days which is below the long-term bearish trendline. When looked at the recent price action of Shiba Inu, the May high was formed within a key resistance area. At the time of writing, …

Timeline of Shiba-inu

In April Shiba Inu introduced a burning portal allowing holders to permanently destroy their tokens. This was aimed at reducing the circulating supply while also enabling users to receive passive income.

Shiba Inu (SHIB) is trading under tremendous price pressure since the last week. Despite many announcements for the development of the Shiba Inu ecosystem, SHIB's price has not shown any such positive movement.

Today's Shiba Inu price analysis displays a bearish movement in the market, and the market moves towards a slightly upward direction, raising the price of SHIB little by little. After that, however, the cost of SHIB experienced a flash crash and declined to $0.00002130, from $0.00002003; on May 5, 2022, SHIB/USD lost further momentum and.

Shiba INU price rebound is been expected for a pretty long time, but the asset is just extending the descending triangle. But interestingly, the price is also not falling beyond heavily and attempting to hold the lower support firmly. And by consolidating widely around these levels, the asset displays it's being self-assured of the upswing …

SHIB price shows the strength in the downside momentum, as it continued with the downfall that begins in April. Despite the lower movement, the probability of falling more is bleak as the sellers sit near the multi-week support level.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Bitcoin has been weakly bouncing from the $38k support level, and on the previous day, it dropped decisively beneath this mark.

Shiba Inu has declined 24% in the last 30 days, from $0.00008, the all-time high established in late October 2021, to $0.00002013 today, according to Coinmarketcap data. This represents a 76 percent decrease in the last six months.  If there is no upward movement, the swing low at $0.00001704 will be breached. If the bears …

As the market continues to be ruled by fear, many investors were looking towards the largest coins – Bitcoin [BTC] and Ethereum [ETH] – over newer and more volatile alts. Still, the meme coins and tokens have been seeing their own stories unfold.

Relative to the price in Jan, Shiba Ini (SHIB) has created a double bottom pattern, which has also been combined with bullish divergences. The post Shiba Inu (SHIB) Completes Bullish Pattern After 5 Months appeared first on BeInCrypto.

In May 2021, Ethereum (ETH) co-founder Vitalik Buterin donated over $1.5 billion in cryptocurrencies to help India in the fight against Covid-19. The grant included around 50 trillion Shiba Inu (SHIB) tokens and 500 ETH tokens.