Shiba Inu (SHIB)

Shiba Inu (SHIB) is a meme-based cryptocurrency originally created as a tribute to Dogecoin. Key factors of SHIB include its significant social media influence, strategic token burning to reduce supply, and the continuous development of its ecosystem.

In the daily chart, the price of SHIB has steadily risen under the influence of the rising trend line. The dynamic support has caused the asset to rise from a low of $0.0000183 on April 13th to $0.000026, an increase of 45%.

As of the time of publication, the market capitalization of Shiba Inu is $14.7 billion, while the 24-hour volume has fallen to $250 million.

If the previously mentioned support level is intact, buyers may break through the resistance level of 0.00003 US dollars. This breakthrough may better confirm the market sentiment turning from selling at high points to buying the dips.

The rebound after the breakthrough may push the asset up to $0.000038 and then $0.000054.