The Shiba Inu cryptocurrency has fallen below the $0.000017 support level. This presents a potential opportunity for investors. They usually call it 'buy the dip'.
Crypto analyst SHIB Knight has identified a new buy zone for Shiba Inu. He shared this analysis on X, formerly Twitter. The analyst highlighted several key price levels in a chart.
Important levels include $0.00002392, $0.00002105, and $0.00001837. The most significant level lies below $0.000018. This decline has created new investment opportunities.
SHIB Knight's analysis uses the weekly chart. He identifies critical support levels around $0.00001760 and $0.00001766. The analyst states, "$SHIB is on buy zone at weekly chart. Bulls should defend this zone for uptrend."
This analysis comes amid speculation of an impending uptrend for Shiba Inu. The AI at CoinCodex predicts a bullish wave in the coming days. Those forecasts mention 2x growth, with SHIB potentially reaching $0.00003825 within five days.
This would represent a 121% increase from current levels. However, the AI is less optimistic about July. It predicts a notable price crash next month, with a potential low of $0.00001638.
Currently, Shiba Inu faces bearish pressure. The price has dropped 1.9% in the past day. And in general, it has fallen 7.54% over the past week. Impressive, huh?
At the time of writing, Shiba Inu trades at $0.00001715.