SHIB News: Shiba Inu Aims to Reclaim Key Resistance Level After Recent Support Breakdown

The popular cryptocurrency Shiba Inu is currently at a pivotal moment, as it struggles to rebound from a significant support breakdown. Here’s what’s happening in the market and what investors need to know.

Will Shiba Inu Reclaim $0.000012?

Shiba Inu is at a critical juncture as it attempts to rebound from a recent support breakdown. The breakdown below the $0.00001272 level has weakened bullish sentiment, and the price faces further risks of decline if buyers fail to regain control. SHIB is now aiming to reclaim this level, which has become a key resistance zone. Increased buying momentum is necessary for a successful rebound, but persistent bearish pressure could lead to deeper losses.

Shiba Inu (SHIB) Price Prediction for March 10

The current trading price of Shiba Inu (SHIB) is $0.00001249, showing ongoing volatility. Over the past 24 hours, SHIB has gained 1.00%, but has declined by 19.95% over the past 30 days. The mixed performance suggests cautious Optimism in the short-term market sentiment, but considerable bearish pressure affecting the token. SHIB has traded within a narrow range over the past month, indicating a period of consolidation and sideways movement. The market is in a holding pattern, waiting for a catalyst to push the price.

Shiba Inu to Become UAE’s New Reserve Asset? Expert Forecasts Big Move for SHIB

Crypto expert Del Crxpto has predicted that the UAE government may soon establish a strategic digital asset reserve featuring Shiba Inu (SHIB). This bold forecast comes after the United States launched its own crypto reserve last week, sparking discussions about similar initiatives in other nations. The relationship between Shiba Inu and the UAE has been developing over the past few months, making this a significant development for both the token and global digital asset adoption.

Shiba Inu Price Crash: Whales Drive SHIB Dump

Shiba Inu is experiencing a sharp price decline, with on-chain data indicating that large holders (whales) are selling at an alarming rate. Over the past week, SHIB’s market value has significantly dropped alongside the rest of the crypto market, erasing recent gains and testing key support levels. The massive selling by whales has accelerated the token’s decline and caused concerns among retail traders, increasing the risk of further downside moves.