In the battle of blockchain ecosystems, Shiba Inu (SHIB) on Ethereum and Brett (BRETT) on Base present intriguing cases of how tokens work and recover. Over the past 24 hours, both cryptocurrencies have faced downward pressure, but BRETT has experienced a more pronounced decline compared to SHIB.
While SHIB saw a more modest decline of around -2% to -4%, BRETT saw a sharp decline, approaching -8% to -10%. Both tokens are showing signs of recovery, but BRETT’s volatility remains high, highlighting its more turbulent market behavior.
SHIB: gradual decline with signs of stabilization
The Shiba Inu (SHIB) price has fallen slightly and is currently trading at $0.00001338, down 3.24% in the last 24 hours. Despite the decline, SHIB’s market capitalization remains strong at $7.89 billion, highlighting its continued popularity.
Trading volume increased to $135.1 million and thus indicates its growth by 32.55%. This increase in trading activity indicates possible fluctuations in the short term.
The recent high for SHIB was around $0.00001385, which is now acting as a significant resistance level. The price briefly found support near $0.0000132, hinting at buying interest at this level.
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However, a series of lower highs and lows indicates a prevailing bearish trend. If SHIB fails to hold above $0.0000132, further declines are possible. Conversely, a break above $0.00001385 could signal a potential recovery.
BRETT: Higher volatility, sharper fall
In contrast, Brett (BRETT) has experienced a more pronounced decline, with its current price at $0.07677, down 6.35% over the past 24 hours. BRETT has a market capitalization of $760.81 million, reflecting its position in the market. Volume rose to $14.99 million, an increase of 74.89%, indicating increased trading activity near current price levels.
The token’s recent high of $0.08197 is a critical resistance point. BRETT retreated from this peak and briefly found support at $0.076 before a slight rebound. If this support level does not hold, the price could test further support at $0.074.
An increase in trading volume indicates that market participants are either seeking to fix the price or are speculating on a further fall in the market. For a bullish reversal, BRETT needs to close above $0.08197. Failure to maintain support at $0.076 could lead to additional downside movement.
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