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Shiba Inu has been on a downtrend in the last 24 hours. With the crypto market set for what could be another correction, there are concerns that SHIB could still go lower.
Shiba Inu Price Action
Currently, Shiba Inu trades at $0.0000109, indicating a 3.26% downtrend in the past 24 hours.
The asset’s price drop has brought it below its major moving average (MA) indicators; the 10-day MA stands at $0.000011. Just as well, SHIB’s moving average convergence divergence (MACD) remains negative, meaning that the asset is giving off a sell signal.
Broader Market Pressure Builds
The substantial decline the crypto market is currently experiencing seems to be the largest source of concern at the moment.
On Tuesday, the market saw some relief after the U.S. Dollar Index (DXY), which tracks the U.S. dollar’s performance against a basket of other major...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...