The price of Shiba Inu (SHIB), the meme-inspired cryptocurrency, has seen a notable rise of over 4% since the beginning of the week, regaining its position at $0.00003 per token. However, what is striking is the importance of this particular level to SHIB’s recent price movements.
The price of Shiba Inu (SHIB), the meme-inspired cryptocurrency, has seen a notable rise of over 4% since the beginning of the week, regaining its position at $0.00003 per token. However, what is striking is the importance of this particular level to SHIB’s recent price movements.
If we reflect on the late February to early March rally, during which SHIB prices skyrocketed almost 400%, surpassing the $0.3 per token threshold and reaching highs of $0.45 before suffering a substantial correction, a pattern emerges. Every time SHIB approached the $0.00003 mark, buyers seemed to step in, driving prices higher. However, every attempt to break through this level was met with resistance, resulting in massive selling.
In the last 13 hours, SHIB price has once again shown bullish momentum, with an attempt to break through the $0.3 resistance point, albeit without success. Despite this setback, the persistent growth trajectory and resistance shown by SHIB price suggest the possibility of a bullish breakout, should the $0.00003 threshold be decisively surpassed.
With March coming to a close amid a booming cryptocurrency market following a three-year bull run, speculation is mounting about the possibility of a second rally for Shiba Inu. Amid this speculation, attention remains focused on the imminent possibility of SHIB charting a new course, possibly marking a significant turning point in its price trajectory.
