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Title: Shiba Inu (SHIB) 23% Plunge in 10 Days: What’s Happening?
Shiba Inu, a popular cryptocurrency, has taken a significant hit over the past week and a half, plummeting by 23%. This sharp decline has left investors wondering what is causing this sudden drop.
According to analyst Arman Shirinyan, the bearish momentum in SHIB is expected to continue unless it can reclaim the 26 EMA level at approximately $0.00002730. If the asset fails to do so, a push towards $0.00002850 and eventually $0.00003000 might be possible.
However, there is still some hope for Shiba Inu buyers. As long as the 50 EMA level holds, the possibility of recovery remains open. A successful defense of this level could allow SHIB to retest higher resistance levels, potentially bucking the current downward trend.
It’s essential for investors to keep a close eye on this critical support level and be prepared for any potential reversals in market sentiment.
This article is written by Arman Shirinyan
Source: u.today
