According to IntoTheBlock’s assessment, a mere minority of Shiba Inu investors, precisely 18 percent, are currently experiencing gains at the prevailing price. The overwhelming prevalence is presumably possessing at a depreciation.
The financial gains of Shiba Inus have plummeted, yet some financiers are interpreting this as a possible indication that the value has reached its lowest point, presenting a chance to gather more at reduced costs.
What’s the future for SHIB?
The wider cryptocurrency market’s decline since the start of February has negatively affected altcoins such as SHIB. SHIB has decreased by 28% in February, a month that has typically been favorable for Shiba Inu. Toncoin (TON) Value Forecast for March 26th
There is optimism for March, as Shiba Inu has previously concluded positively in March, excluding March 2023. In March 2024, Shiba Inu witnessed a substantial increase of 144.55%, implying a potentially encouraging forecast for the upcoming month if historical patterns persist.
Presently, the daily RSI is nearing oversold thresholds at 30, indicating a potential rebound once oversold circumstances are verified.
Furthermore, a resurgence in SHIB’s value is feasible if market mood improves and demand resurfaces. In this instance, a clear breakthrough above the daily SMA 50 and 200, at $0.0000177 and $0.0000192 correspondingly, could indicate an optimistic surge. If the value decreases, SHIB might revisit support close to $0.000011.
