SHIB Goes Downhill as Recent News Causes Panic Among Investors

Azeez Mustapha


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The of value Shiba Inu was maintained steadily despite a negative adjustment in the overall cryptocurrency market. The recent news’s consequences, nevertheless, are still apparent because, during the past month, SHIB has lost nearly one-fifth of its value. The recent report that the SEC intends to sue Coinbase was one of the latest stories that had an impact on SHIB.

Furthermore, SHIB has not benefited from the ongoing celebration of the debut of the Shibarium layer-two network. This could be explained by the persistent claims that the Shibarium developers are stealing code from another blockchain. Owing to these recent developments, most investors are starting to flee the market in panic as SHIB goes downhill.

Key Shiba Inu Levels To Watch – March 23

Resistance Levels: $0.000017940, $0.000015900, $0.000013990
Support Levels: $0.000009640, $0.000009240, $0.000007790
Shib Goes Downhill as Recent News Causes Panic Among InvestorsA sell signal has been given by the Moving Average Period 18 crossing the Moving Average Period 40 downward. The price continued to decline after the change in the market structure until it hit the $0.000009640 level.

As soon as the price left the $0.000017940 supply zone, a bearish order block was created. The bearish order block was created after the formation of the intermediate-low in the supply zone. The upward retracement is projected to stop if the bearish order block rejects the price to the downside.

SHIB Key Levels

Total Market Capitalization: $1.20T
Shiba Inu Market Capitalization: $6.45B
Shiba Inu Volume: $0.31B
Market Rank: #14

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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