Next Shiba Inu (SHIB) Support Level Revealed

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Written By Maya Cantina

Tue, 2/04/2024 – 8:52

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After some ups and downs, the next key support level for SHIB is thought to be between $0.000025 and $0.000024. This is where we expect SHIB could land, finding a steady spot that matches where the price grew before. If it reaches this range and holds steady, we might see SHIB start to recover and climb back up.

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Looking at the SHIB chart, this price range is significant. It is where SHIB previously jumped in value, which means it could be a strong area that supports the price from falling further. Areas like that one tend to see an accumulation of buy orders. 

SHIBUSDT
SHIB/USDT Chart by TradingView

If the price of SHIB does fall to this level and does not drop below it, it could be a good sign. It means that the price is likely to bounce back, as this level has acted like a trampoline for the price in the past, pushing it upward.

For those watching SHIB’s future, staying above $0.000024 is key. If the price can stay above this range, it is more likely to see a proper recovery. Another key level is $0.000022, which coincides with the 50 EMA. However, if the price falls below these support levels, traders might need to look for the next support at a lower point, approximately around psychological thresholds like $0.00002.

For this to happen, it needs to not just reach the support level but also attract enough buyers to push the price back up. The overall sentiment on the cryptocurrency market will be a crucial factor in SHIB’s recovery.

SHIB has a specific price range to watch right now. If it can stay above $0.000024, the chances are better for the price to start going up again. A drop below $0.000024 will most likely open a way to $0.00002.

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