The post Shiba Inu (SHIB) in Rebound Mode, Key Price Levels to Watch appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Shiba Inu (SHIB) is in rebound mode after two days of grueling price drawdown fueled by whale buyers. Thus far this week, the meme coin has dropped as low as $0.00002434, retaining an 11.72% over the trailing seven-day period. Following this bearish performance, the token’s price is now in rebound mode, inking 0.99% growth in 24 hours to $0.0000272. How high will Shiba Inu grow? As an established meme coin, Shiba Inu has the market liquidity to fuel the growing demand that the current rebound hints at. Per current market data, SHIB now boasts a trading volume of  $2.28 billion. Though this metric is down daily, it signifies a robust shuffling among SHIB whales and retail traders. Related With the obvious price rebirth, the digital currency will look first to reclaim the $0.00003 price level to extend its weekly high above $0.000033. Shiba Inu has the right setup, including the Relative Strength Index (RSI) score of 42.56, setting the pace for growth. SHIB/USDT 4H Chart. Source: TradingView Via CoinMarketCap As showcased on the SHIB/USDT 4H Chart, the Moving Average Convergence Divergence (MACD) also showcases potential for rapid growth. The MACD line is inching to cross above the signal line. Should this crossover be registered on-chain, it could send the price of SHIB well toward the $0.00004 price mark. If…

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Filed under: News - @ December 11, 2024 12:29 pm