The price of the dog-themed cryptocurrency Shiba Inu (SHIB) has fallen in recent days in response to profit-taking.
The price of the dog-themed cryptocurrency Shiba Inu (SHIB) has fallen in recent days in response to profit-taking.
If it closes in the red today, SHIB would mark its third consecutive day of losses, culminating in a weekly drop of 29%. At the time of writing, SHIB was down 15% in the last 24 hours to $0.00002476.
Shiba Inu’s drop comes amid a broader decline in crypto markets at the end of the week, as investors considered the outlook for interest rates after inflation data released on Thursday came in higher than expected. expected.
Despite the recent price drop, the dog-themed cryptocurrency has managed to hold at a crucial level of 81 trillion SHIB, a testament to its resilience in a fluctuating market.
According In the block According to the data, where Shiba Inu is currently listed, 81.94 trillion SHIB were purchased by 115,950 addresses between the price range of $0.000022 and $0.000028 at an average price of $0.000025.
Maintaining this level is crucial for the confidence of SHIB holders as it indicates stability and recovery potential.
There is somewhat weak support away from the current SHIB price level, where 29,290 addresses purchased 35.53 billion SHIB for an average price of $0.000021 in the range of $0.000019 to $0.000022.
This is due to Shiba Inu’s rapid advance in early March, which left it little time to build support around its current trading range.
Going forward, Shiba Inu faces a minor hurdle between $0.000028 and $0.000031, with 15.31 trillion SHIB purchased across 39,310 addresses at an average price of $0.000029.
Looking ahead, the crypto community will closely monitor Shiba Inu’s ability to maintain the 81 trillion SHIB level.
