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Shiba Inu (SHIB) Stuck in Downtrend: Awaiting Bitcoin’s Cue for Potential Rebound Beincrypto 2 zile în urmă

Shiba Inu (SHIB) Stuck in Downtrend: Awaiting Bitcoin’s Cue for Potential Rebound 🐕

Bitcoin Shiba Inu

Shiba Inu (SHIB) finds itself in a persistent downtrend, with attempts to break key resistance levels continuously failing. Investor sentiment remains weak, as ongoing losses and a dominance of losing transactions in the market further dampen confidence. This bearish sentiment has led to a decline in trading volume as investors pull back from network activities.

SHIB's fortunes are closely tied to Bitcoin, with a high correlation suggesting that Bitcoin's performance could affect SHIB's prospects. If Bitcoin surpasses the $100,000 mark, it could stimulate growth for both itself and SHIB, potentially reversing current trends.

Shiba Inu's current price remains stuck under previous resistance levels, and without significant changes in market sentiment, the coin is unlikely to break out of its range in the short term. Long-term recovery may depend on broader market conditions and Bitcoin's ability to provide momentum for SHIB to overcome resistance thresholds.

Sursă: beincrypto.com ↗

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