Shiba Inu Enters Buy Zone After Recent Crash
The Shiba Inu price has dipped below the $0.000017 support level, creating a buying opportunity for investors looking to enter the market at a lower price point. Analysts have identified key levels and zones that indicate potential movements in the price of the meme coin. Here’s what you need to know:
Key Levels Identified by Analyst
According to crypto analyst SHIB Knight, the Shiba Inu price has fallen into a new buy zone, presenting an opportunity for investors. The analyst shared a chart on a social media platform highlighting various crucial levels for the meme coin’s price:
- Levels highlighted in the analysis include $0.00002392, $0.00002105, and $0.00001837.
- The most significant level is below $0.000018, indicating a potential entry point for investors.
Buy Zone Confirmed by Analyst
SHIB Knight suggests that the Shiba Inu token has officially entered the buy zone, based on a comprehensive analysis using the weekly chart. The analyst believes that bulls need to defend specific levels to trigger an uptrend, particularly around $0.00001760 and $0.00001766:
- If bulls can protect these levels, the price is expected to rise from the current position.
- The analyst’s post indicates that Shiba Inu is in a buy zone on the weekly chart, signaling a potential uptrend.
AI Predicts Shiba Inu Price Movement
The Shiba Inu price is at a pivotal point, with speculation pointing to a potential uptrend in the near future. The AI at CoinCodex has made predictions about the meme coin’s price, suggesting a bullish trend over the coming days:
- According to CoinCodex, the Shiba Inu price could experience significant growth, potentially reaching $0.00003825.
- This projected price represents a 121% increase from the current level, indicating a bullish sentiment in the short term.
Short-Term vs. Long-Term Predictions
While short-term projections for Shiba Inu are optimistic, there are concerns about the coin’s long-term performance. The AI forecasts a potential price crash in July, with the price falling to $0.00001638, a nearly 5% decline from the current level:
- Current market conditions continue to put pressure on the Shiba Inu price, with losses recorded in both daily and weekly trading.
- The meme coin is facing resistance from bears, leading to a downward trend in its price performance.
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