{"id":536965,"date":"2023-06-08T07:01:53","date_gmt":"2023-06-08T07:01:53","guid":{"rendered":"https:\/\/uniquehot.com\/?p=536965"},"modified":"2023-06-08T07:07:45","modified_gmt":"2023-06-08T07:07:45","slug":"shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\/","title":{"rendered":"Shiba Inu Hits Crucial Barrier &#8211; How This May Impact Investor Sentiment"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Shiba Inu (SHIB) has found itself in a challenging position as it grapples with a prolonged downward trend, reaching a critical support level that investors have anxiously awaited. The popular meme coin, known for its adorable dog-themed branding, has struggled to reverse its declining price trajectory in recent months.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite the initial hype and enthusiasm surrounding SHIB, the coin has faced an uphill battle in the volatile market of digital currencies. As the price continued to backpedal, the community of SHIB holders and supporters looked to the long-awaited support level as a potential turning point for the beleaguered cryptocurrency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the road to recovery remains uncertain, with SHIB struggling to regain its former glory.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/now-that-optimism-bedrock-hard-fork-is-done-what-can-we-expect\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Now That Optimism \u2018Bedrock\u2019 Hard Fork Is Done, What Can We Expect?<\/a><\/div>\n<h2><strong>Shiba Inu: &#8216;Final Destination&#8217; Support Is Reached<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Shiba Inu has finally reached what market observers have dubbed its &#8220;<\/span><a href=\"https:\/\/u.today\/shiba-inu-shib-reaches-final-destination-heres-what-it-means\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Final Destination<\/span><\/a><span style=\"font-weight: 400\">&#8221; support level, a significant price point of $0.000008 that has long been regarded as a crucial roadblock for a potential trend reversal.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-536971\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-25.png?resize=1009%2C524\" alt=\"\" width=\"1009\" height=\"524\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-25.png?w=1009 1009w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-25.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-25.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-25.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-25.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">Source: TradingView<\/pre>\n<p>A lot of people were anticipating a big spike in the price of SHIB, seeing it as a turning point for the token. They were expecting a spike that would mark a turning point and take SHIB to greater heights.<\/p>\n<p>But despite periodic outbursts of excitement and temporary rallies that fueled optimism, the token has struggled to make any real headway. SHIB holders are at a crossroads, uncertain about the future direction of the cryptocurrency, due to the absence of persistent upward momentum.<\/p>\n<p>The meme coin is under more scrutiny than ever before, and investors are being prompted to rethink their approaches in light of this crucial juncture.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/pz8wxwNA\/\" width=\"2047\" height=\"979\"><\/p>\n<pre style=\"text-align: center\">SHIB market cap drops below the $5 billion handle. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">The $0.000008 level holds particular significance as it is considered a robust support level that has historically acted as a springboard for price recoveries.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The failure of SHIB to gain momentum and break out significantly from this crucial support level has left investors and analysts uncertain about the token&#8217;s future trajectory.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/polygon-matic-large-transactions-explode-742-amid-latest-sec-attack\/?swcfpc=1\"> Polygon (MATIC) Large Transactions Explode 742% Amid Latest SEC Attack<\/a><\/div>\n<h2><strong>Meme Coin Struggles Amidst Crypto Lawsuits And Bitcoin&#8217;s Plunge<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Shiba Inu&#8217;s recent struggles to reverse its downward trend were exacerbated by the broader turmoil in the cryptocurrency market. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The token&#8217;s decline came in the wake of Bitcoin&#8217;s sharp drop to the $25,000 level, triggered by the mounting <\/span><a href=\"https:\/\/www.wsj.com\/video\/series\/on-the-news\/sec-sues-binance-and-coinbase-what-the-charges-mean-for-crypto\/995FCADF-1BFE-4730-BAF7-D522B47E6612\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">charges faced by Binance and Coinbase<\/span><\/a><span style=\"font-weight: 400\">. These lawsuits sent shockwaves throughout the crypto industry, leaving investors and traders on edge.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As one of the many altcoins affected by Bitcoin&#8217;s plunge, Shiba Inu experienced added pressure in the face of the market-wide sell-off. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The negative sentiment surrounding the lawsuits and the uncertainty surrounding regulatory scrutiny created a challenging environment for SHIB to regain its footing.<\/span><\/p>\n<p><em>Featured image from Fearless Photographers<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu (SHIB) has found itself in a challenging position as it grapples with a prolonged downward trend, reaching a critical support level that investors have anxiously awaited. The popular meme coin, known for its adorable dog-themed branding, has struggled to reverse its declining price trajectory in recent months. Despite the initial hype and enthusiasm surrounding SHIB, the coin has faced an uphill battle in the volatile market of digital currencies. As the price continued to backpedal, the community of SHIB holders and supporters looked to the long-awaited support level as a potential turning point for the beleaguered cryptocurrency.\u00a0 However, the road to recovery remains uncertain, with SHIB struggling to regain its former glory. Related Reading: Now That Optimism \u2018Bedrock\u2019 Hard Fork Is Done, What Can We Expect? Shiba Inu: &#8216;Final Destination&#8217; Support Is Reached Shiba Inu has finally reached what market observers have dubbed its &#8220;Final Destination&#8221; support level, a significant price point of $0.000008 that has long been regarded as a crucial roadblock for a potential trend reversal.\u00a0 Source: TradingView A lot of people were anticipating a big spike in the price of SHIB, seeing it as a turning point for the token. They were expecting a spike that would mark a turning point and take SHIB to greater heights. But despite periodic outbursts of excitement and temporary rallies that fueled optimism, the token has struggled to make any real headway. SHIB holders are at a crossroads, uncertain about the future direction of the cryptocurrency, due to the absence of persistent upward momentum. The meme coin is under more scrutiny than ever before, and investors are being prompted to rethink their approaches in light of this crucial juncture. SHIB market cap drops below the $5 billion handle. Chart: TradingView.com The $0.000008 level holds particular significance as it is considered a robust support level that has historically acted as a springboard for price recoveries. The failure of SHIB to gain momentum and break out significantly from this crucial support level has left investors and analysts uncertain about the token&#8217;s future trajectory. Related Reading: Polygon (MATIC) Large Transactions Explode 742% Amid Latest SEC Attack Meme Coin Struggles Amidst Crypto Lawsuits And Bitcoin&#8217;s Plunge Shiba Inu&#8217;s recent struggles to reverse its downward trend were exacerbated by the broader turmoil in the cryptocurrency market. The token&#8217;s decline came in the wake of Bitcoin&#8217;s sharp drop to the $25,000 level, triggered by the mounting charges faced by Binance and Coinbase. These lawsuits sent shockwaves throughout the crypto industry, leaving investors and traders on edge. As one of the many altcoins affected by Bitcoin&#8217;s plunge, Shiba Inu experienced added pressure in the face of the market-wide sell-off. The negative sentiment surrounding the lawsuits and the uncertainty surrounding regulatory scrutiny created a challenging environment for SHIB to regain its footing. Featured image from Fearless Photographers<\/p>\n","protected":false},"author":557,"featured_media":536968,"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":[1144,8686,83767,4735,84473,88392],"class_list":["post-536965","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-wshiba-inu"],"acf":[],"yoast_head":"\n<title>Shiba Inu Struggles To Reverse Trend As Price Hits Support Level<\/title>\n<meta name=\"description\" content=\"Shiba Inu (SHIB) has found itself in a challenging position as it grapples with a prolonged downward trend, reaching a critical support level that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shiba Inu Struggles To Reverse Trend As Price Hits Support Level\" \/>\n<meta property=\"og:description\" content=\"Shiba Inu (SHIB) has found itself in a challenging position as it grapples with a prolonged downward trend, reaching a critical support level that\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-08T07:01:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-08T07:07:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-24.png\" \/>\n\t<meta property=\"og:image:width\" content=\"763\" \/>\n\t<meta property=\"og:image:height\" content=\"456\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Shiba Inu Hits Crucial Barrier &#8211; 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. 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:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Hits Crucial Barrier &#8211; How This May Impact Investor Sentiment","url":"http:\/\/uniquehot.com\/news\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-24.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-24.png?fit=763%2C456"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","ethusd","meme coins","price action","shib price","wshiba inu"],"dateCreated":"2023-06-08T07:01:53Z","datePublished":"2023-06-08T07:01:53Z","dateModified":"2023-06-08T07:07:45Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Hits Crucial Barrier &#8211; How This May Impact Investor Sentiment\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-reaches-crucial-support-barrier-how-this-may-impact-investor-sentiment\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-24.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-24.png?fit=763%2C456\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"ethusd\",\"meme coins\",\"price action\",\"shib price\",\"wshiba inu\"],\"dateCreated\":\"2023-06-08T07:01:53Z\",\"datePublished\":\"2023-06-08T07:01:53Z\",\"dateModified\":\"2023-06-08T07:07:45Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-24.png?fit=763%2C456","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/536965"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=536965"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/536965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/536968"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=536965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=536965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=536965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}