The post Shiba Inu Coin Price Gains Increasing Attention: Will Prices Rally? appeared on BitcoinEthereumNews.com.

Yet again, Shiba Inu (SHIB) coin price makes waves with a course milestone concerning adoption. Another step forward for SHIB as a more widespread form of payment, with a Dubai-based real estate firm announcing it will now accept the meme coin to purchase property. SHIB news is a step in the right direction for SHIB wanting to be more than just a meme coin. Despite this bullish adoption news, SHIB’s market performance has been underwhelming, failing to catch on in a bearish market. BREAKING: A Dubai real estate firm now accepts $SHIB for property purchases. — Whales HQ (@WhalesHQ) December 30, 2024 Shiba Inu Coin Price Drops Almost 6% in a Day Despite Positive News Despite the news of SHIB being adopted, the meme coin saw a 5.84% decline over the past 24 hours, trading at $0.00002061 at the time of writing. The token’s market cap is $12.14 billion. SHIB’s 24-hour trading volume increased by 20.31% to $478.26 million, as activity appears to be skewed against the buyers rather than the sellers, further reinforcing the downward pressure on the token’s price. According to previous expert opinions, the TD Sequential indicator on the daily Shiba Inu ($SHIB) chart shows a bullish buy signal. The price has now reached the current levels, with a potential upside for future entry. If this indicator comes true, SHIB could rebound to target $0.000026 (38.2% Fibonacci retracement level) and $0.000029 (23.6% Fibonacci retracement level). Technical Analysis: A Bearish Pattern Persists Shiba Inu charts show that the market was bullish through most of the year till December 15. This is mostly because of the bearish trend speaking four hours. The trend channel was downward sloping, and so was this downtrend, with low highs and low lows. However, bearish momentum did relent, and as you can see on…

---

Filed under: News - @ January 1, 2025 6:17 am