• The second most popular meme coin, Shiba Inu has fallen from its recent 2023 high of $0.00001590 to trade at $0.00001235 as regulatory pressure bites
• SHIB’s short-term outlook reveals the possibility of a trend reversal in the coming days, especially if support at $0.000012 continues to stay firm
• Investors should be ready to buy and fill their bags the moment SHIB begins its rebound with a green candle, possibly above $0.000012

Shiba Inu Price Prediction

The second most popular meme coin, Shiba Inu (SHIB) has recently seen its price fall from its 2023 high of $0.00001590 to trade at $0.00001235 due to increased regulatory pressure. However, SHIB’s short-term outlook suggests that there may be a potential trend reversal in the near future if support at $0.000012 holds strong.

Listing on BinanceUS

On February 24th, SHIB was listed on BinanceUS – a subsidiary of Binance – allowing US-based customers to buy and sell the cryptocurrency using the SHIB/USD pair. While this announcement did not lead to an immediate increase in price as expected by investors, it could still have long-term implications for SHIB’s value growth over time.

Support Levels

An analysis of Shiba Inu’s daily chart reveals support levels provided by both a lower ascending trend line and 50-day Exponential Moving Average (EMA), as well as a seller congestion zone located in the lower yellow band which prevents further downside movement for now. Additionally, the Stochastic oscillator is close to being oversold, suggesting that SHIB is nearing exhaustion of its pullback and could potentially begin rebounding soon if green candles appear above $0.000012.

100-Day EMA

In case declines intensify further than expected, investors can look towards another key support level provided by the 100-day EMA currently holding ground at $0.00001138 – which would help absorb any remaining selling pressure before an uptick in price can occur once again..

Conclusion

Overall, while Shiba Inu has faced significant headwinds over the past several weeks due to increasing regulations across cryptocurrencies worldwide, there remains potential for recovery if certain support levels hold strong and allow for upward momentum once more following a potential trend reversal in days ahead