Altcoin News by Thebittimes.Com

Shiba Inu has established itself as one of the market’s most popular meme coins . Investor confidence in meme coins may continue to rise. Recently, meme coins , including DOGE, have experienced a bullish rally . DOGE had recently put out a 145% rally on the weekly. SHIB is currently trading at $0.00001202 as per the data from CoinMarketCap. As per the analysis, SHIB has rebounded after touching 0.000084. This rebound is taken into consideration as a possible strong support area. Will Shiba Inu repeat history? The history is believed to repeat itself, as a similar trend occurred in May 2022. Post this, the price put on a 100% rally. Prior to this, in May 2022, Shiba Inu experienced a dip to the aforementioned trendline, which was then followed by a three-month 100% recovery rally. Similar to this instance, in January 2022, the SHIB/DOGE pair recovered by more than 50% in under a month. If history is any indication, SHIB may once again experience a swift bullish turnaro...

Shiba Inu spiked in the indices after the crypto markets rallied this week reaching new monthly highs. Bitcoin climbed above the $20,000 mark while Ethereum reached $1,500 levels for the first time in 40 days since the Merge. SHIB also moved in tandem with the markets printing decent gains of 10% since Monday. The dog-themed token was on the back foot last week after it briefly added an extra ‘zero’ in the indices but recovered in price as the markets rallied . Also Read: $1,000 Investment in Shiba Inu Turns Into $19 Million in October 2022 The token barely rallied this year and mostly dipped or traded sideways for 10 consecutive months. However, that didn’t stop retail investors and whales from accumulating the token. Both day-to-day investors and the ETH-rich list regularly purchased the dips on Shiba Inu throughout the year. This makes SHIB stand as an undisputed king in the crypto sphere as it attracts investors even when its price heads south. Also Rea...