Shiba Inu (SHIB) is experiencing a significant decline in price, dropping by 10.31% in the past 24 hours. The cryptocurrency is showing a clear bearish trend with lower highs and lower lows. It is currently testing critical support levels, with $0.00001300 serving as a psychological barrier. If SHIB breaks below this level, additional selling may occur. The next support at $0.00001280 could attract buyers, but a stronger level at $0.00001250 could prevent a deeper decline. On the resistance side, SHIB needs to reclaim $0.00001350 to indicate a potential rebound. Increased bullish momentum could occur if it surpasses $0.00001400 and confirms a trend reversal. However, the market sentiment remains bearish, with high selling pressure indicated by the Relative Strength Index (RSI) and negative momentum shown by the Moving Average Convergence Divergence (MACD). The SEC clarified that meme coins like Shiba Inu are not classified as securities but rather as collectibles due to their speculative nature. They lack inherent utility and derive their value from social engagement and market demand. While transactions involving these coins do not require registration, fraudulent activities related to their sale are subject to enforcement actions by regulatory agencies.



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