Historical Data Indicates Shiba Inu Could Decline Further; Traders Seek Refuge in This $0.03 Ethereum Token
The post Historical Data Indicates Shiba Inu Could Decline Further; Traders Seek Refuge in This $0.03 Ethereum Token appeared on BitcoinEthereumNews.com.
Shiba Inu (SHIB), once hailed as a meme coin sensation, has entered September with a bleak outlook. Historical data and market trends suggest further declines, leaving investors wary of its future. However, amid SHIB’s mounting bearish pressure, a new opportunity has emerged in RCO Finance (RCOF), a promising Ethereum token currently in its presale stage. Shiba Inu (SHIB) Outlook Is Bearish as Meme Coin Market Undergoes a Dramatic Downturn Currently, at $0.00001321, the price of the Shiba Inu token has dropped over 3% since the beginning of September, reflecting a broader bearish trend that has plagued the entire meme coin market. Historically, September has been a challenging month for Shiba Inu, with losses of 8.25% in 2023 and 6.43% in 2022, setting the stage for further declines this year. According to market analysts, Shiba Inu (SHIB) must close above the $0.0000147 level to continue moving higher. However, it could dip even lower if it falls below $0.0000123. This downward spiral is a larger trend affecting the meme coin market. Its total market capitalization has plummeted below $40 billion, a significant drop from its previous highs. Many meme coins have suffered catastrophic losses, with an average decline of 63.73% from their peak values. Shiba Inu, in particular, has seen a staggering 70.86% drop from its peak, signaling a severe market correction wiping out most meme coin ventures. As the market undergoes this dramatic downturn, SHIB investors increasingly feel it could be time to explore alternative investments. SHIB Investors Turn to a New Ethereum Token for Potential 10,000x Returns In light of Shiba Inu’s ongoing struggles, many investors are paying attention to RCO Finance (RCOF), a new Ethereum token that promises significant returns. RCO Finance (RCOF), or simply the RCOF token, is the native token of the highly anticipated RCO Finance trading…
Filed under: News - @ September 7, 2024 5:57 am