Shiba Inu (SHIB), a dog-themed cryptocurrency, experienced a sharp rebound in its price after four days of losses. The rebound occurred at the $0.0000185 level, which acted as a significant support level for SHIB. The price climbed to highs of $0.000024 before slightly pulling back and is currently trading at $0.000022, up 11% in the last 24 hours. The broader cryptocurrency market is also showing signs of recovery, with Bitcoin and Ethereum posting gains. On-chain data suggests that large holders of SHIB have been accumulating the cryptocurrency during the dip. The market will be closely monitoring key support and resistance levels, with a break above the daily SMA 50 at $0.0000252 potentially leading to further gains. Traders are cautiously monitoring SHIB's price action to determine its next trend after the recent sell-off.



Other News from Today