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Shiba Inu’s Price Nears Crucial Support Level Amid Market Sell-Off and Roaring Kitty’s Return
The post Shiba Inu’s Price Nears Crucial Support Level Amid Market Sell-Off and Roaring Kitty’s Return appeared on BitcoinEthereumNews.com. Shiba Inu (SHIB), a popular dog-themed cryptocurrency, has seen a price decline of approximately 8% over the past 24 hours. The broader cryptocurrency market is also experiencing a sell-off, driven by stronger-than-expected May jobs data. Trading legend Keith Gill, known as “Roaring Kitty,” recently made headlines with his first livestream since the Gamestop saga, without revealing significant news. The cryptocurrency market faces heightened volatility as Shiba Inu (SHIB) approaches a critical support level amid a broader market sell-off. Shiba Inu Faces Downward Pressure Amid Market Sell-Off In the last 24 hours, Shiba Inu (SHIB) has experienced a 7.25% decrease, positioning its price at $0.0000234. This downturn reflects a broader trend within the cryptocurrency market, which is currently witnessing substantial sell-offs. The latest downturn follows the release of stronger-than-expected May jobs data, which has prompted concerns among investors about future market conditions. Impact of Influential Traders and Market Sentiment The market’s unease intensified after the first livestream in years by Keith Gill, also known as “Roaring Kitty.” Despite high anticipation, Gill’s appearance offered little new information, leading to disappointment among traders expecting significant insights. This led to an acceleration in the sell-off, further impacting meme coins like Shiba Inu. Technical Analysis: SHIB Approaching Support Levels Historically, Shiba Inu has shown inconsistent performance, with June beginning on a bearish note. After reaching a high of $0.00002940 in late May, SHIB has struggled, registering only two positive trading days so far this month. As of now, SHIB is teetering towards its third consecutive day of losses, having peaked at $0.00002632 earlier on June 5. Significance of the 40 Trillion SHIB Support Level The current descent has brought Shiba Inu close to the critical 40 trillion SHIB support threshold. This level is crucial as it represents a point where buying interest is traditionally strong…
The post Shiba Inu’s Price Nears Crucial Support Level Amid Market Sell-Off and Roaring Kitty’s Return appeared on BitcoinEthereumNews.com.
Shiba Inu (SHIB), a popular dog-themed cryptocurrency, has seen a price decline of approximately 8% over the past 24 hours. The broader cryptocurrency market is also experiencing a sell-off, driven by stronger-than-expected May jobs data. Trading legend Keith Gill, known as “Roaring Kitty,” recently made headlines with his first livestream since the Gamestop saga, without revealing significant news. The cryptocurrency market faces heightened volatility as Shiba Inu (SHIB) approaches a critical support level amid a broader market sell-off. Shiba Inu Faces Downward Pressure Amid Market Sell-Off In the last 24 hours, Shiba Inu (SHIB) has experienced a 7.25% decrease, positioning its price at $0.0000234. This downturn reflects a broader trend within the cryptocurrency market, which is currently witnessing substantial sell-offs. The latest downturn follows the release of stronger-than-expected May jobs data, which has prompted concerns among investors about future market conditions. Impact of Influential Traders and Market Sentiment The market’s unease intensified after the first livestream in years by Keith Gill, also known as “Roaring Kitty.” Despite high anticipation, Gill’s appearance offered little new information, leading to disappointment among traders expecting significant insights. This led to an acceleration in the sell-off, further impacting meme coins like Shiba Inu. Technical Analysis: SHIB Approaching Support Levels Historically, Shiba Inu has shown inconsistent performance, with June beginning on a bearish note. After reaching a high of $0.00002940 in late May, SHIB has struggled, registering only two positive trading days so far this month. As of now, SHIB is teetering towards its third consecutive day of losses, having peaked at $0.00002632 earlier on June 5. Significance of the 40 Trillion SHIB Support Level The current descent has brought Shiba Inu close to the critical 40 trillion SHIB support threshold. This level is crucial as it represents a point where buying interest is traditionally strong…
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