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Sujit Kumar
Dec 11, 2024
by Sujit Kumar

Shiba Inu Shows Signs of Recovery After Price Dip

Shiba Inu
After experiencing a significant price dip earlier this week, Shiba Inu (SHIB) has entered recovery mode. The token, which hit a weekly low of $0.00002434, has now rebounded by 0.99% in the last 24 hours to trade at $0.0000272. Despite this dip, SHIB has retained an 11.72% gain over the trailing seven-day period, signaling a potential shift toward bullish momentum.

Technical Indicators Suggest Growth Potential

Shiba Inu’s market liquidity continues to support its recovery, with a trading volume of $2.28 billion. While this figure reflects a daily decline, it underscores active participation from SHIB whales and retail traders. Key technical indicators, such as the Relative Strength Index (RSI) at 42.56 and a promising Moving Average Convergence Divergence (MACD) pattern, hint at further growth.

If the MACD line crosses above the signal line, SHIB could climb toward the $0.00004 mark. However, failure to sustain this momentum may lead to a retest of $0.0000244 under bearish conditions.

Fundamentals Keep Investors Optimistic

Shiba Inu’s fundamentals continue to inspire confidence within its community. Despite recent Fear, Uncertainty, and Doubt (FUD), lead developers have focused on key initiatives like Shibarium transaction growth and an accelerating burn rate. These factors, combined with upcoming product milestones, suggest that SHIB could be on the cusp of a stronger recovery.

As SHIB regains traction, it aims to reclaim the $0.00003 price level and extend its weekly high. Investors are watching closely to see if the meme coin can sustain this rebound and deliver on its potential.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Shiba Inu Shows Signs of Recovery After Price Dip
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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