Shiba Inu Drops 15% in 7 Days Amid Middle East Tensions

Shiba Inu (SHIB) has experienced a decline in the past 24 hours, despite a mild recovery observed in most meme coins. The token has accumulated a 7-day loss of 15%, influenced by rising tensions in the Middle East, which have contributed to a depressed crypto market overall. In contrast, other tokens like Dogecoin (DOGE) and Pepe (PEPE) have shown better performance with gains of 1.5% and 4.6% respectively in the past day.

Shiba Inu is approaching a critical support level at $0.00001050, which could determine the token’s trajectory over the next few days. This project boasts one of the strongest communities in the crypto space and is home to a growing ecosystem of decentralized apps (dApps). Through these dApps, investors can stake their SHIB, play blockchain-based games, and trade other meme coins. If SHIB bounces off its key support at $0.00001050, it could favor a bullish Shiba Inu price forecast.

Looking at Shiba Inu’s daily chart, bearish momentum has been accelerating in the past few days as the token has dropped in 7 out of the past 9 trading sessions. One indicator that favors a bearish Shiba Inu price prediction is the BBTrend. This metric measures how Bollinger Bands have expanded and contracted lately to measure the strength of the current price trend. As seen in the chart, the indicator has been posting increasingly higher negative red bars, indicating growing bearish momentum as SHIB nears its key support at $0.00001050.

Although this points to a bearish outlook, it could also mean that sellers have gone too far already and could anticipate the exhaustion of the downtrend once it gets to this relevant level. Hence, if SHIB touches and bounces off this mark, sellers may not have the necessary ammunition to keep pushing the price lower. This supports a bullish Shiba Inu price prediction that favors a ‘mean reversion’ move. This means that SHIB could rise to around $0.00001500 – an important level where the daily 200-day exponential moving average currently sits.

Despite SHIB’s disappointing performance this year, the best crypto presales of the year like SUBBD (SUBBD) offer significant upside potential to early buyers. SUBBD has created a decentralized content distribution platform that allows creators to keep a higher share of their earnings and protects them from unfair bans and restrictive moderation policies. More than 2,000 influencers with a combined following exceeding 250 million fans have already signed up to join SUBBD and are waiting for the platform’s official launch to start sharing content. The SUBBD token is the ecosystem’s utility asset. Creators will get paid with it and will enjoy faster payments and low platform fees while fans will use it to get subscription discounts, early access to new features, and more. Once the platform is launched, the demand for $SUBBD will skyrocket as fans will follow their favorite creators wherever they go.