The Shiba Inu price is currently in deep bearish territory. After being rejected at the 200-day EMA in mid-April (blue line) and breaking the ascending trend line on the 1-day chart to the downside on April 20 (black line), the SHIB price is now in free fall. Yesterday, the SHIB price initially received support at $0.00000839 on the 1-day chart. However, if a trend reversal does not follow soon, the Shiba Inu price could drop towards the local low at $0.00000779 from December 28. This would erase all price advances since the beginning of the year. For now, the RSI on the daily chart is at 24, in oversold territory. For the return of a tentative bullish momentum, the SHIB price needs to break the key resistance at $0.000010. Otherwise, a retest of the December 2022 low seems inevitable. Will Shiba Inu Ever Reach Its All-Time High Again? Even though the Shiba Inu price is extremely bearish at the moment, the meme coin still has one of the strongest communities hoping for better times once Shibarium and SHIB : The Metaverse are live ..
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