- SHIBA has not produced any profitable returns since February.
- Shiba Inu price points to a lack of bullish interest on the volume indicator.
- Invalidation of the bearish thesis is a breach above $0.00001850.
Shiba Inu price could be deemed a crypto underperformer if market conditions persist. Continual diminishing returns are a probable outcome for the notorious meme coin.
Shiba Inu price shows a lack of bullish interest
]Shiba Inu price is looming with bearish sentiment as investors show no interest at the current $0.00001200 levels. The sideways action is forcing the popular meme coin into a stalemate, with long-term Shiba maximalists pulling the plug on re-investing more capital. Over three months, the underperformance has been documented since the SHIB price fell from the key $0.00004000 levels. Since the plummet, there has been no evidence to entice investors to allocate more Shiba coins to their portfolios.
Shiba Inu price provides further evidence of a lack of interest from key investors in the volume profile. The mundane pattern signals bulls will only be interested in the SHIB price once the current $0.00001200 support level is broken. If market conditions persist, the bears could potentially push the prices below the swing lows at $0.00000500.
SHIB/USDT 12-Hour Chart
Invalidation of the unfortunate demise of the Shiba Inu price lies at $0.00001850. If the bulls can breach this level, then there is a chance the SHIB price will survive through the crypto bear market with bullish targets at $0.00003000, a 130% increase from the current Shiba Inu price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 meme coins price prediction Dogecoin, Shiba Inu, Bonk: Memes face steeper correction than Bitcoin
Dogecoin eyes February lows after nearly 23% decline in the past seven days. Shiba Inu could plummet another 13% amid the broader crypto market correction. Bonk price is likely to regain lost ground as technical indicators point at recovery.
XRP sustains above $0.50 as traders digest news of Ripple XRP Ledger entry in the Japanese market
Ripple (XRP) sustained above $0.50, a key support level, on Wednesday. XRP price is down nearly 6% in the past ten days. The altcoin is in a confirmed downward trend, and wiped out all gains since February.
Optimism OP struggles to gain momentum despite alleged $90 million OP purchase by a16z
Venture capital firm a16z has purchased $90 million in OP tokens under a two-year vesting period, Unchained crypto reports. Sources told Unchained Crypto that Optimism has done well and the project is still doing airdrops.
Sei price action forecasts an opportunity to accumulate SEI Premium
Sei (SEI) price is at a crossroads and could trigger a steep correction or potential bounce after setting up an all-time high (ATH) of $1.145 roughly a month ago. Based on the Bitcoin price action, a potential bounce will likely occur anytime now.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.