After the bullish move we saw in the crypto market in March, the larger bullish trend to resume. But the reversal back down in April and the decline that followed this month after the crash in tyerra LUNA erased all those hopes. Meme coins such as Shiba Inu and Dogecoin haven’t shown much bullish pressure as they continue to not show any signs of life but the decline has stopped ad support for both of them, so there might be a bullish reversal from here which would be a good place to buy, if the sentiment in the crypto market improves.
Shiba Inu Daily Chart – The Support at $0.0000086 Holds
Is Shiba starting to bounce off the support?
Shiba Inu has been plummeting again after the consolidation period until this month. This meme coin will make marginal gains and then dip further in the next bearish market condition. That’s why it dived lower last week and, some crypto analysts say that Shiba coin might drop further. A support zone had formed around $0.000020, but that has been broken and the price dipped below $0.000010, reaching $0.0000086 which provided resistance for some time, before the bullish breakout in October last year.