{"id":533396,"date":"2023-05-17T09:37:58","date_gmt":"2023-05-17T09:37:58","guid":{"rendered":"https:\/\/wncen.com\/?p=533396"},"modified":"2023-05-17T09:55:56","modified_gmt":"2023-05-17T09:55:56","slug":"shiba-inu-faces-tough-resistance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-faces-tough-resistance\/","title":{"rendered":"Shiba Inu Faces Tough Resistance, Risk Of Uncharted Lows – Here’s Why"},"content":{"rendered":"

Shiba Inu (SHIB) has been experiencing a tumultuous journey in the crypto market since its inception in August 2020. However, the past few weeks have been particularly eventful for SHIB holders, as the coin has been struggling to break past a crucial resistance level, known as the “Death Line.”<\/span><\/p>\n

This foreboding term was coined by SHIB enthusiasts to refer to the <\/span>critical resistance level<\/span><\/a> at $0.000008. The level has been a significant hurdle for the meme coin to cross since early May, and it has made several attempts to break past it, only to face rejection each time.\u00a0<\/span><\/p>\n

This resistance level has caused considerable anxiety among SHIB holders and traders, who are now closely monitoring the coin’s movements to see if it can finally overcome the dreaded line and push towards a new all-time high.<\/span><\/p>\n

Related Reading: Power Play: Top 5 Cryptos Set To Ignite The Week With Decent Gains<\/a><\/div>\n

Shiba Inu Faces Market Pressure Amid ‘Death Line’ Fears<\/strong><\/h2>\n

Shiba Inu has been grappling with market pressure in recent weeks, with its <\/span>CoinGecko<\/span><\/a> price hovering at a meager $0.00000878 and experiencing a stagnant 24-hour change of 0.8%. Over the past seven days, SHIB has seen a 1.9% decrease in value, struggling to break free from the grips of the recent slump.<\/span><\/p>\n

\"\"<\/p>\n

Source: Coingecko<\/pre>\n
The SHIB token faces significant challenges, with the existence of the “<\/span>Death Line<\/span><\/a>” looming ominously over its future. The term refers to a crucial resistance level at $0.000008, which the token has been unable to breach despite repeated attempts. The failure to overcome this barrier could potentially cause the token’s price to plummet to $0.000007, marking a severe setback for SHIB and its holders.<\/span><\/p>\n
\n
#Bitcoin<\/a> #Cryptonews<\/a> #Ethereum<\/a> #BTC<\/a> #Crypto<\/a> #Blockchain<\/a>
\nShiba Inu’s (SHIB) ‘Death Line’ Might Cause True Horror on Market https:\/\/t.co\/xXo8RIXBRC<\/a> pic.twitter.com\/qPgwLqt1Ba<\/a><\/p>\n
\u2014 CryptoverseEu (@Cryptoverse_Eu) May 16, 2023<\/a><\/p><\/blockquote>\n
\"\"<\/p>\n
Source: TradingView<\/pre>\n
Furthermore, despite reaching a solid support level at around $0.000008, SHIB’s price is under considerable pressure from the market. If the token fails to maintain its position above the support line, a significant price correction could ensue.<\/span><\/p>\n
<\/p>\n
SHIB currently has a market cap of $5.27 billion. Chart: TradingView.com<\/a><\/pre>\n
Related Reading: Not So Covert: The Secret Service Owns Crypto And Promotes NFTs, And \u2013 Why Not?<\/a><\/div>\n
Analyzing Potential Downturn<\/strong><\/h2>\n
Several factors hold sway over the trajectory of the Shiba Inu token and the wider crypto market. Market sentiment, for instance, plays a significant role. The emotions, opinions, and attitudes of investors can greatly impact the demand and value of cryptocurrencies.\u00a0<\/span><\/p>\n
Positive sentiment can fuel bullish trends and drive prices upward, while negative sentiment can trigger sell-offs and result in a bearish market.<\/span><\/p>\n
Technical analysis indicates the possibility of a downturn in the crypto market, but it’s crucial to recognize the ever-present volatility that characterizes this realm. Despite the indications, it is important to acknowledge that nothing is definitive in this unpredictable landscape.\u00a0<\/span><\/p>\n
-Featured image from iStock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu (SHIB) has been experiencing a tumultuous journey in the crypto market since its inception in August 2020. However, the past few weeks have been particularly eventful for SHIB holders, as the coin has been struggling to break past a crucial resistance level, known as the “Death Line.” This foreboding term was coined by SHIB enthusiasts to refer to the critical resistance level at $0.000008. The level has been a significant hurdle for the meme coin to cross since early May, and it has made several attempts to break past it, only to face rejection each time.\u00a0 This resistance level has caused considerable anxiety among SHIB holders and traders, who are now closely monitoring the coin’s movements to see if it can finally overcome the dreaded line and push towards a new all-time high. Related Reading: Power Play: Top 5 Cryptos Set To Ignite The Week With Decent Gains Shiba Inu Faces Market Pressure Amid ‘Death Line’ Fears Shiba Inu has been grappling with market pressure in recent weeks, with its CoinGecko price hovering at a meager $0.00000878 and experiencing a stagnant 24-hour change of 0.8%. Over the past seven days, SHIB has seen a 1.9% decrease in value, struggling to break free from the grips of the recent slump. Source: Coingecko The SHIB token faces significant challenges, with the existence of the “Death Line” looming ominously over its future. The term refers to a crucial resistance level at $0.000008, which the token has been unable to breach despite repeated attempts. The failure to overcome this barrier could potentially cause the token’s price to plummet to $0.000007, marking a severe setback for SHIB and its holders. #Bitcoin #Cryptonews #Ethereum #BTC #Crypto #Blockchain Shiba Inu’s (SHIB) ‘Death Line’ Might Cause True Horror on Market https:\/\/t.co\/xXo8RIXBRC pic.twitter.com\/qPgwLqt1Ba \u2014 CryptoverseEu (@Cryptoverse_Eu) May 16, 2023 Source: TradingView Furthermore, despite reaching a solid support level at around $0.000008, SHIB’s price is under considerable pressure from the market. If the token fails to maintain its position above the support line, a significant price correction could ensue. SHIB currently has a market cap of $5.27 billion. Chart: TradingView.com Related Reading: Not So Covert: The Secret Service Owns Crypto And Promotes NFTs, And \u2013 Why Not? Analyzing Potential Downturn Several factors hold sway over the trajectory of the Shiba Inu token and the wider crypto market. Market sentiment, for instance, plays a significant role. The emotions, opinions, and attitudes of investors can greatly impact the demand and value of cryptocurrencies.\u00a0 Positive sentiment can fuel bullish trends and drive prices upward, while negative sentiment can trigger sell-offs and result in a bearish market. Technical analysis indicates the possibility of a downturn in the crypto market, but it’s crucial to recognize the ever-present volatility that characterizes this realm. Despite the indications, it is important to acknowledge that nothing is definitive in this unpredictable landscape.\u00a0 -Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":533435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,8686,83767,4735,84473,83667],"class_list":["post-533396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-ethusd","tag-meme-coins","tag-price-action","tag-shib-price","tag-shiba-inu"],"acf":[],"yoast_head":"\nShiba Inu Faces Tough Resistance, Risk Of Uncharted Lows<\/title>\n<meta name=\"description\" content=\"Shiba Inu (SHIB) has been experiencing a tumultuous journey in the crypto market since its inception in August 2020. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Faces Tough Resistance, Risk Of Uncharted Lows – Here’s Why","url":"http:\/\/wncen.com\/news\/shiba-inu-faces-tough-resistance\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-faces-tough-resistance\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-88.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-88.png?fit=609%2C391"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","ethusd","meme coins","price action","shib price","shiba inu"],"dateCreated":"2023-05-17T09:37:58Z","datePublished":"2023-05-17T09:37:58Z","dateModified":"2023-05-17T09:55:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Faces Tough Resistance, Risk Of Uncharted Lows – Here’s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-faces-tough-resistance\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-faces-tough-resistance\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/a-88.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/a-88.png?fit=609%2C391\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"ethusd\",\"meme coins\",\"price action\",\"shib price\",\"shiba inu\"],\"dateCreated\":\"2023-05-17T09:37:58Z\",\"datePublished\":\"2023-05-17T09:37:58Z\",\"dateModified\":\"2023-05-17T09:55:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-88.png?fit=609%2C391","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/533396"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=533396"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/533396\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/533435"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=533396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=533396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=533396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}