SHIB Faces Continued Downtrend as Market Pressures Mount

Shiba Inu (SHIB), the popular Ethereum-based meme coin, is teetering on the edge of further declines as the broader cryptocurrency market struggles under sustained selling pressure. Despite a minor rebound on Wednesday, SHIB remains 65% below its lowest point this year, reflecting the ongoing bearish sentiment across digital assets. The coin’s technical indicators and fundamental metrics, including the Mean Dollar Invested Age, suggest little relief in sight for investors. With Bitcoin and altcoins continuing to retreat, SHIB’s outlook remains precarious as it tests critical support levels.

Shiba Inu Price on the Verge of More Downside

Shiba Inu, the Ethereum-based meme coin, has dropped to a critical support level as the broader cryptocurrency market remains under pressure. The SHIB price rebounded slightly on Wednesday but is still down 65% from its lowest level this year. The ongoing performance of the crypto market, with Bitcoin and most altcoins retreating, is behind this crash. Both SHIB’s fundamentals and technical indicators, such as the Mean Dollar Invested Age, suggest further downside in the coming days.

Are Whales Betting Big on a SHIB Rebound? 874 Billion Tokens Just Bought

As meme coins like Shiba Inu (SHIB) have dropped sharply in the past few days, opportunistic buyers have seized the moment and taken advantage of these lower prices to accumulate tokens. Recent data from IntoTheBlock indicated that SHIB whales bought 874 billion tokens from April 2 to April 6, as the meme coin approached a critical support area. This move by “smart money” typically indicates that they expect the price to bottom out soon.

Shiba Inu (SHIB) Remains Stable Despite Market Volatility

The crypto market is experiencing volatility, but Shiba Inu (SHIB) remains stable, refusing to add an additional zero to its price. Despite the overall market downturn, SHIB stands firm above $0.00001, maintaining a symbolic threshold. Short-term indicators suggest optimism for the token’s future, and there is tension in the air about a potential spectacular comeback. However, a key catalyst for a significant price move is currently missing.

Shiba Inu Holders Face Potential 35% Drop, Meme Traders Switch to IntelMarkets AI

The markets are still recovering from Black Monday, with Shiba Inu (SHIB) struggling to regain value. SHIB saw a 5% increase between Monday and Tuesday but could not sustain momentum and dropped again. Losses over the past month now exceed 12%, largely due to macroeconomic shocks during the first week of April. Despite efforts by the SHIB community, bearish sentiments in the markets impacted all actively listed tokens. Many SHIB investors have now picked up new cryptocurrencies.