Will the Altcoin Giant Take Off Again? Insight into Shiba Inu’s Market Trajectory

Shiba Inu (SHIB), which failed to benefit from the last memecoin fury in May, saw its market value drop, and new meme coins with low market value saw demand. Not only did Shiba not receive any demand, but it also lost some of its investors during this period. Should Buy Shiba Coin? Since reaching a local peak of $0.00001575 in February 2023, the second largest memecoin by market value has been in a downtrend. However, Shiba Inu has now reached a long-term support area that could initiate a bounce and a potential trend reversal. For this to happen, the weekly chart shows a rare triple bottom formation and a bullish divergence in the daily RSI. Shiba Inu’s price reached its all-time high of $0.00008854 in November 2021. It has been falling since then and found its bottom at $0.00000714 in June 2022. Last year, SHIB reached this support area three […] The post Will the Altcoin Giant Take Off Again? Insight into Shiba Inu’s Market Trajectory appeared first on COINTURK NEWS.