Shiba Inu Price Prediction As SHIB Plummets 19% And Experts Say Buy The Dip With This Shiba Inu P2E Derivative

Shiba Inu Price Slumps 19%

Shiba Inu (SHIB) has experienced a significant 19% decline in the past 24 hours, trading at $0.00001176 as of 05:10 a.m. EST. This follows a broader market sell-off that saw Bitcoin and Ethereum drop below $50k and $2,500, respectively.

Market Analysis

According to IntoTheBlock, only 19% of SHIB holders are currently in profit, while over 53% are experiencing losses.

SHIB Technicals

SHIB has traded within a falling wedge pattern, breaking below the lower boundary today and approaching the $0.00001126 support level. Bulls aim to utilize this support for a potential rebound, with the Relative Strength Index (RSI) currently at 32.

If buying pressure continues, SHIB could attempt to move above the channel, targeting $0.00001727. However, the price remains below both the 50-day and 200-day Simple Moving Averages (SMAs), indicating a bearish outlook.

Alternative Opportunity

Amidst the bearish sentiment, investors are seeking alternative opportunities for high returns. Shiba Shootout (SHIBASHOOT) is gaining traction as a potential breakout meme coin.

Inspired by Shiba Inu, Shiba Shootout offers a Wild West-themed adventure with a play-to-earn (P2E) gaming aspect and a 1,096% annual staking yield.

Presale tokens are currently available for purchase at $0.0198 each, with a price increase expected soon. Visit the official website to invest using ETH, BNB, USDT, or a bank card.