- Shiba Inu traded near $0.00001788, with key support at $0.00001850 and resistance at $0.00002097 shaping its next move.
- SHIB ($0.00) overtakes Official Trump in market cap amid a 12% drop in memecoin valuations, showcasing its lasting relevance.
The memecoin market has seen a sharp decline over the past 24 hours and now stands at approximately $97 billion. Shiba Inu [SHIB] one of the key players in this space, has also faced significant losses.
However, SHIB has managed to reclaim its position as the second-largest memecoin by market cap, overtaking Official Trump [TRUMP ($7.09)].
SHIB price action and technical analysis
Shiba Inu was trading at $0.00001788 at press time, representing a 6.34% decline over the last 24 hours. The overall market sell-off in the memecoin sector has exacerbated the downtrend.
A detailed technical analysis of SHIB highlighted critical levels that traders should watch closely....
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