The article discusses the recent bullish turn of Shiba Inu, a meme coin, as the overall meme coin market rally gains momentum. The author analyzes the technical indicators and Fibonacci levels to determine the potential price movement of Shiba Inu. While there are signs of a potential reversal, rising selling signals and a possible extended correction are also noted. The article highlights the importance of sustaining dominance above the psychological mark of $0.000020 for an extended rally and mentions the potential for a rounding bottom reversal reaching the $0.000030 mark. However, if the price fails to hold the 23.60% Fibonacci level, a significant downfall is expected, potentially resulting in a death cross between the 50 EMA and 200 EMA lines. Currently, Shiba Inu is trading at $0.00001868, experiencing a slight increase of 0.4% on the day.



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