Shiba Inu is bracing for a potential 40% pullback in its price, with speculations about whether its value will drop back to $0.00001. This comes amid various memecoins, including DOG, POPCAT, and MEW, experiencing significant gains.
The larger market is reportedly recovering from a bearish phase, which adds complexity to the outlook for Shiba Inu and other memecoins. Established tokens like Dogecoin, PEPE, BONK, FLOKI, and Shiba Inu are attempting to establish a bullish trend.
The discussion revolves around the current strength of the memecoins and their attempts to overcome recent market challenges, positioning for a potential bullish turnaround.
