Shiba Inu price research analysis shows that the altcoin is still in a downturn, as Shib-bulls struggle to build the necessary momentum for a turnaround. As a result, the altcoin is anticipated to continue the downward trend in the coming days.
However, as market volatility decreases, the resistance and support levels move closer together, making the cryptocurrency’s price less volatile. As a result, the highest limit for Shib is $0.00001437, which serves as the major resistance.
The lower limit, on the other hand, is available at $0.00001005, which is the strongest support level for Shib. At the time of writing the coin is trading at $0.00001213, down by more than six percent.
Acceptance for Shiba-inu grows
The official Twitter account for the cryptocurrency Shiba Inu has already surpassed 3.3 million followers, a new high. Dogecoin, a rival meme coin, has 3.3 million Twitter followers as well. Shiba Inu has recorded growth in recent months, adding close to 600,000 followers since February.
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