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Is Shiba Inu’s Price Preparing for a Bullish Rally in 2023?

Published 2023-01-17, 10:15 a/m
© Reuters. Is Shiba Inu’s Price Preparing for a Bullish Rally in 2023?

Coin Edition -

  • SHIB’s price has dropped 2.85% over the last 24 hours.

  • The meme token’s price has also weakened against BTC and ETH.

  • Technical indicators on SHIB’s weekly chart are on the verge of flagging bullish.

The popular meme coin, Shiba Inu (SHIB), has seen its price drop 2.85% over the last 24 hours according to CoinMarketCap. At press time, the price of SHIB stands at $0.00001044. This is a small retracement from its daily high, which stands at $0.00001077. The 24-hour low for the meme coin sits at $0.00001019.

In addition to weakening against the U.S. Dollar over the last 24 hours, SHIB has also weakened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 2.50% and 2.21% respectively. Despite the 24-hour drop-in in SHIB’s price, the longer time frames still show some bullish signs that investors should take note of.

The post Is Shiba Inu’s Price Preparing for a Bullish Rally in 2023? appeared first on Coin Edition.

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