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Shiba Inu (SHIB) Price Analysis: SHIB’s Recent Performance and Potential Future Outlook
In a recent update, it appears that Shiba Inu (SHIB) has experienced an impressive increase of 1,079% in a specific on-chain metric. This significant growth prompts questions about the token’s future trajectory.
At present, I am advising investors to maintain their short-term expectations as a range trading scenario is more likely than a sustained break above the daily SMA 200 at $0.0000222. The daily RSI just above its midpoint further supports this notion. If SHIB can manage a close above this line, it could be a strong indication of a potential uptrend.
Conversely, if we see a sustained break below the daily SMA 50 at $0.0000255, bears might regain control and test the immediate support levels around $0.0000168 to $0.0000182.
While many analysts are eager to predict SHIB’s future trajectory based solely on its recent performance, I recommend caution and closely monitoring these key technical indicators for further guidance.
Source: u.today
