SHIB has dropped nearly 6% amid market corrections, but technical indicators suggest a potential recovery if key support levels hold.
Shiba Inu (SHIB) has declined nearly 6% in the last 24 hours, influenced by a broader market correction. Smaller-cap tokens also faced larger drops, with Pudgy Penguins down 10.3% and SPX6900 down 14.3%. Despite the downturn, bullish predictions remain, with some analysts forecasting a potential rise to $0.00023 if SHIB breaks above a key resistance level. The token has found support at $0.00001200, and a bounce could signal a resumption of its uptrend, while a drop below this level might lead to further declines.