The dog-themed cryptocurrency Shiba Inu (SHIB) has experienced a significant sell-off, causing it to test a crucial support zone. Analysts have identified the range of $0.0000185 to $0.0000212 as the most critical support zone for SHIB. The price of SHIB has slipped below this range due to selling pressure in the market. Over the past 24 hours, SHIB has dropped by 11.18% to $0.0000179. This decline has caused SHIB to lose support at the daily SMA 200, and the daily RSI has fallen into the negative zone. Traders will be watching to see if SHIB can return to the crucial support zone and potentially recover to resistance levels around $0.000025. The broader crypto market has also experienced a sell-off, with $860 million in liquidations recorded in the past 24 hours. Bitcoin fell below $99,000, leading to losses in other major cryptocurrencies. Bitcoin liquidations totaled $261 million, while Shiba Inu saw $2.3 million in liquidations.



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