SHIB’s Wild Ride: Is It Going Down or Just Taking a Nap?

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Ah, the world of cryptocurrencies! A place where fortunes are made and lost faster than you can say “blockchain.” According to the ever-reliable CoinStats, it seems that the ongoing drop is the more likely scenario for most cryptocurrencies. Shocking, I know! 😲

SHIB/USD

Now, let’s talk about our furry friend, SHIB. The rate has taken a nosedive of 3.83% over the last day. I mean, who doesn’t love a good rollercoaster ride? 🎢

On the hourly chart, SHIB has pulled off a spectacular false breakout of the support level at $0.00001231. Bravo, SHIB! You’ve managed to confuse everyone yet again! 🙃

But hold your horses! If a bounce back doesn’t happen by the end of the day, we might be looking at a slow, painful decline to the $0.000012 area. It’s like watching a sad puppy in the rain. 🐶☔

Now, if we zoom out a bit, we see that the bears are flexing their muscles more than the bulls. If the daily bar closes around the current prices without a long wick, traders might soon witness a test of the support at $0.00001154. It’s like a game of chicken, but with more zeros. 🐻🐂

From a midterm perspective, keep your eyes peeled for the candle’s closure around the $0.00001078 level. If it breaks out, we might just have enough energy for a deeper correction to the $0.000010 area and below. It’s like a financial black hole! 🌌

As of now, SHIB is trading at a thrilling $0.00001232. Buckle up, folks! 🚀

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2025-03-09 16:38