Shiba Inu: The Price Rollercoaster You Didn’t Sign Up For! 🎢💸

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<a href="https://bbg-news.com/shib-usd/">Shiba Inu</a>: The Price Rollercoaster You Didn’t Sign Up For! 🎢💸

Oh, Shiba Inu (SHIB), you dramatic little pup! 🐕‍🦺 In recent weeks, you’ve been on a downward spiral, dropping over 34% since February. Investors are watching with bated breath, mostly because you’re flirting with a support level. But let’s be real, darling, the metrics suggest you’re likely to stay under the selling pressure for a while. How charming! 🙄

Shiba Inu’s Price Decline Since February

Since hitting a high of $0.00001894 in February 2025, Shiba Inu has been on a consistent decline. Now, as of mid-March, it’s trading around $0.00001251. A significant drop, indeed! 📉

For weeks, this coin has been playing hard to get, with short-lived upward movements followed by dramatic declines. It’s like watching a soap opera, but with less romance and more numbers. 📺

Last week, SHIB attempted a recovery, reaching an intraweek low of $0.00001082 before bouncing back to $0.0000138—a 26% rise! But, surprise surprise, that was short-lived, and now it’s back to the drawing board. With exchange reserves hitting an all-time low, maybe Shiba Inu is just gearing up for a comeback? Or is it just wishful thinking? 🤷‍♀️

Death Cross Pattern Points To Further Downside

Now, let’s talk about the ominous “Death Cross.” Sounds dramatic, right? This pattern occurs when the 50-day moving average (MA) falls below the 200-day MA, suggesting a bearish trend. And guess what? It just happened on the SHIB/USD chart. Surprise! 😱

The Death Cross is like a bad omen, indicating that prices might continue to plummet. With SHIB below both the 50-day and 200-day moving averages, it’s like a double whammy of selling pressure. The lower band of the Bollinger Bands is at $0.00001123, which is now a potential target. How delightful! 🎯

Whale Activity and Market Sentiment

According to some juicy findings, Shiba Inu has been linked to early holders or whales through price fluctuations. These whales held 20% of the overall supply before the 2021 bull phase. Talk about a power move! 🐋

These big players have been instrumental in influencing SHIB’s price, especially when they decide to buy or sell in bulk. The current SHIB price action is under scrutiny to see if these whales will shake things up. If they start selling more of their SHIB, it could further contribute to the downward trend. How thrilling! 🙃

During this price decline, the $0.00001 price level is the critical support level. But over the past month, SHIB has only briefly dipped below this level and bounced back, which might indicate there’s still some demand. Who knew? 🤔

To turn the tides, SHIB must regain the $0.000013 threshold as it tiptoes towards a bullish market. If it fails to breach this resistance, it might just be stuck in a price range that feels like a never-ending bad date. 🥴

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2025-03-19 07:05