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<\/a> In response to rising bearishness in the crypto market, the Shiba Inu coin witnessed a sharp V-top reversal from $0.00001136. This type of reversal with significant volume growth indicates a sustained downfall from sellers. This falling price is gradually approaching another crucial support with a breakdown motive, indicating the popular memecoin<\/a> may extend the correction trend.<\/span><\/p>\n <\/p>\n Also Read: Whales Buying Shiba Inu Amid Shibarium Restart, SHIB Price To Rally?<\/a><\/p>\n On August 17th, the SHIB price<\/a> gave a massive breakdown from the $0.0000088 support. Followed by a minor retest to confirm price sustainability at a lower level, the coin price continues its downward trend and is currently trading at $0.00000789.\u00a0<\/span><\/p>\n The coin price falling for three consecutive days registers a 9% drop. If the bearish momentum rises, this memecoin may slip another 10% to challenge the $0.000007 psychological support.<\/span><\/p>\n A potential breakdown below it with daily candle closing will intensify the selling momentum and may prolong the downfall to a lower trendline of the channel pattern around $0.000005. This bottom trend could recuperate the bullish momentum and bolster a bullish reversal.<\/span><\/p>\n <\/p>\n A long-tail rejection candle attached to the August 17th candle indicates the high demand pressure at $0.000007. Therefore, the coin holders must keep a close watch on support as it could significantly influence the future movement. If the buying momentum persists at the aforementioned level, the SHIB price could witness a sideways rise in the near future.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n
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\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\nShiba Inu Daily Chart: Key Points<\/b><\/h2>\n
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![\"SHIB](\"https:\/\/s3.tradingview.com\/snapshots\/w\/WmOkGTtZ.png\")
Source- Tradingview<\/span><\/p>\nCan SHIB Price Hold $0.000007 Support?<\/b><\/h2>\n
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