The cryptocurrency Shiba Inu (SHIB) has seen a significant price decline of 3.92% in the past 24 hours, indicating a bearish short-term phase. Increased trading activity and market dynamics suggest a shift in investor sentiment. Traders are closely monitoring support and resistance levels to anticipate the next price movement, and technical indicators suggest possible consolidations and trends. SHIB opened trading at $0.00002667 and has been on a steady downtrend, with a market capitalization drop of 3.91% to $1.78 billion. Despite strong market activity, the dominance of sell orders shows bearish sentiment. Immediate support is at $0.00002500, while resistance is at $0.00002600. The trend is currently bearish, but the Moving Average Convergence Divergence (MACD) indicator suggests potential bullish momentum if buying activity increases. Analysts predict that SHIB could trade at around $0.0000408 by November 2024, depending on market sentiment and crypto trends.



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