Shiba Inu, like many other cryptocurrencies, has been struggling lately. But there are some signs that things might be looking up for the dog-themed meme coin.
Positive Signs for Shiba Inu
Experts are seeing some early signs of recovery for Shiba Inu. The price has been dipping, but there’s a growing sense that buyers are starting to come back into the market. This is backed up by an increase in trading volume, which suggests that people are interested in buying Shiba Inu again.
One analyst, Fiatleak, points out that Shiba Inu’s price is being supported by the strong community behind it, known as the SHIBArmy. They believe that any positive news or comments from the community could help push the price up.
Technical Analysis
The TD Sequential indicator is showing a buy signal, which suggests that the recent downward trend might be coming to an end. Fiatleak has also identified some key resistance levels to watch for:
- $0.00001891: If Shiba Inu breaks through this level, it could move towards the next resistance level.
- $0.00002288: This is the 50 SMA, and breaking through it would signal a strong recovery from the recent lows.
Recent Price Action
Shiba Inu saw a nice jump earlier this week, but it has since dipped back down. Despite this, the trading volume is still high, which suggests that investors are still interested in the coin.
What’s Next?
It’s still too early to say for sure if Shiba Inu is about to rebound, but the signs are looking positive. The community is strong, the trading volume is increasing, and there are some technical indicators suggesting a potential upswing.
Keep an eye on the price action and the news surrounding Shiba Inu. It could be a good time to get in on the action if you’re looking for a potential meme coin comeback.
