Shiba Inu Price Breakdown: 25% Decline Amid Falling Wedge Hints at Possible Reversal to $0.00002
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Shiba Inu has witnessed a 25% price decline, shaped by a falling wedge pattern and a 38% drop in open interest. This substantial selling pressure is countered by weakening trade volume, hinting at a potential reversal. Analysts are monitoring the scenario closely to determine if Shiba Inu can breakout to the $0.00002 mark.
Despite dominant selling pressure, the decline in volume might signal that current levels are bottoming out, setting the stage for a possible bullish breakout. This optimistic outlook has traders keeping a keen eye on market movements.
There's significant anticipation that if Shiba Inu breaks out from the current downtrend, it could rally and reclaim the $0.00002 price point. This potential reversal could stop the current bleeding and instigate a stronger market sentiment for the meme coin.
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