CryptocurrencyNewsPrice AnalysisShiba Inu (SHIB)

Shiba Inu (SHIB) Regains Vital Support, Contemplating 25% Upsurge

  • SHIB saw its price moving past the barrier of $0.0000225, attempting to explore higher zones.
  • This recovery might translate to a 25% upsurge towards $0.0000283.
  • A 4hr candle close beneath $0.0000202 will cancel SHIB’s bullish thesis.

Shiba Inu experienced a substantial constriction of its range following a swing peak on 7 February. That saw the meme coin on a brief decline beneath a critical barrier. However, a recovery appears on the way, signaling a probable upswing for SHIB.

SHIB Price to Launch Upside Rally

Shiba Inu’s price lost nearly 38% of its value since the swing peak of $0.0000352 on 7 February. Meanwhile, range tightening accompanied the downswing. Meanwhile, the Dogecoin competitor has touched the $0.0000223 support area three times and slightly pushed under it the previous two times.

The recovery past this barrier might trigger an upside move than could push SHIB price higher by around 25%. Such a move might see Shiba Inu tagging the weekly resistance level around $0.0000283. This value area will likely cap further upside by the token. Nevertheless, higher bullish dedications might propel SHIB price towards the next obstacle around $0.0000327, translating to a 45% total surge.

📰 Also read:  Jack Dorsey's TBD Releases' C=' To Enhance The BTC Lightning Network

Though things seem upside down for SHIB, inadequate momentum by bulls might see the optimistic case fading. That might lead to a steep retracement for the alternative coin. Meanwhile, a 4hr candlestick close beneath $0.0000202 will cancel Shiba Inu’s bullish case. Such action will clear the door for the alt to retest the 9-hr demand territory, stretching between $0.0000193 and $0.0000158.

Furthermore, Shiba Inu sees whales’ interest. A leading Ethereum whale recently bought more than 271 billion SHIB tokens worth approximately $6.08 million. WhaleStats data shows the 208th ETH whale made a significant transaction, buying 271,370,420,624 SHIB currencies worth $6,086,838.

While publishing this content, Shiba Inu trades at $0.00002247, ranking 15 in the coinmarketcap crypto-list. Moreover, the meme coin exhibits a bullish outlook, ready to attain its upward targets. Also, SHIB reclaimed the critical support at $0.0000225, eyeing further upside. Broad market sentiments are crucial in the token’s upcoming price reactions.

📰 Also read:  Bloomberg Intelligence Analyst Cites Reason For Recent Crypto Price Drop

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Babel Finance Repaying $766M by Offering Crypto-Backed Stablecoin


Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Skip to content