{"id":560777,"date":"2024-08-05T15:06:58","date_gmt":"2024-08-05T15:06:58","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/auto-draft\/"},"modified":"2024-08-05T15:06:59","modified_gmt":"2024-08-05T15:06:59","slug":"shiba-inu-price-prediction-as-shib-plummets-19-and-experts-say-buy-the-dip-with-this-shiba-inu-p2e-derivative","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/shiba-inu-price-prediction-as-shib-plummets-19-and-experts-say-buy-the-dip-with-this-shiba-inu-p2e-derivative","title":{"rendered":"Shiba Inu Price Prediction As SHIB Plummets 19% And Experts Say Buy The Dip With This Shiba Inu P2E Derivative"},"content":{"rendered":"
The Shiba Inu price plummeted 19% in the last 24 hours <\/span>to trade at $0.00001176<\/span><\/a> as of 05:10 a.m. EST on trading volume that surged 221% to $677 million.<\/span><\/p>\n This comes as the entire crypto market experienced a sell-off over the weekend, which briefly drove Bitcoin below $50k and Ethereum back below $2,500.<\/span><\/p>\n Data from <\/span>IntoTheBlock<\/span><\/a> shows that only 19% of SHIB holders are making money, while over 53% of the holders are not. <\/span><\/p>\n <\/p>\n The correction led to the meme coin space slumping, with meme coin titans including DOGE, SHIB, and PEPE all suffering steep losses.<\/span><\/p>\n The Shiba Inu price tumbled in August, dropping from $0.00001600, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n SHIB has since been trading within a falling wedge pattern and crossed below the lower boundary today to plunge to the $0.00001126 support level.<\/span><\/p>\n The SHIB bulls aim to use this support as a cushion to push the price of Shiba Inu up, with the Relative Strength Index (RSI) rebounding from below the 30-oversold level to currently trade at 32.<\/span><\/p>\n If the buying continues, SHIB could soar higher above the channel, as investors target $0.00001727.<\/span><\/p>\nShiba Inu Price Remains Bearish<\/h2>\n