SHIB News: Bearish Trend Continues Despite Short-Term Correction

Shiba Inu (SHIB) Price Prediction for March 20

As of now, Shiba Inu (SHIB) is trading at $0.00001271 after a slight 0.32% decrease in the last 24 hours, though it has experienced a 15.27% decline over the past 30 days. These contrasting figures indicate that while short-term corrections are underway, the longer-term trend has been bearish. Despite this small decline today, the 15.27% drop over the past 30 days signals that SHIB has been under selling pressure for some time. This situation is common in the volatile meme coin sector, where rapid price changes are often driven by investor sentiment and social media hype. Overall, the market appears to be in a corrective phase after previous rallies.

Shiba Inu: Path to Millionaire Status if SHIB Hits $0.00008616 Again

Shiba Inu (SHIB) was a top-performing cryptocurrency during the 2021 bull run, reaching an all-time high of $0.00008616. Early investors saw massive returns. Currently, SHIB is down 85% from its peak but rallied to $0.000036 in March 2024. To have a million dollars worth of SHIB at $0.00008616, you would need 11.60 billion coins.

Shiba Inu Eyes Breakout: Falling Wedge Pattern Hints at Strong Rally

A classic bullish signal is flashing for Shiba Inu, as the cryptocurrency’s price action forms a falling wedge pattern on the daily chart, hinting at a potential breakout from its recent downtrend. Cryptocurrency analyst @ZAYKCharts posted on X about the falling wedge pattern, stating, “$SHIB is breaking out of a falling wedge on the 1D timeframe. Anticipating a strong bullish move.”

Decentralized Economy - Read The SHIB Magazine

Read the latest edition of The SHIB Magazine here. Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.