Shiba Inu (SHIB) Faces a Close Battle with 200 MA!
Shiba Inu now moves a step closer to its last support level. At the same time, 200 DMA remains closer to the currently traded value. While the movement since the last week of February has mostly been affected by the international tension, Shiba Inu is now a step closer to its long-term support level. A positive movement can be expected the last time in January 2022 that returned in a short time frame. Shiba now remains at 15th rank with a liquid market capitalization of USD 12.8 billion.
Shiba Inu Price Analysis
Shiba Inu’s price action is clear and concisely advertising a do-or-die situation for this cryptocurrency. With very high market liquidity, the SHIBA token surpasses its peers by a considerable margin. Buying trends can be identified as neutral to negative with a small prospect of giving a positive end breakout.
Trading near or close to the 20% tolerance range of its 200 DMA curve indicated in the yellow curve shows a potential to perform in different price trends. Value of Shiba Inu below $0.00001900 would be an alarming position carrying very high risk with a small possibility of reward in the near term.
