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SHIB bearish trend confirmed, only Kraken exchange news can save the day

Technical analysis confirms the SHIB bearish trend, confirmation of listing the token by Kraken exchange or Robinhood exchange can save the drowning SHIB.

SHIB started to gain the recent momentum last month and now it holds the 11th position in the crypto market with a live 24h trading volume of 8.02 billion dollars. One thing which is worth seeing is the market cap (which is $29,443,671,125) of the rival currency of original meme token. SHIB has lost 17% in its price that confirms the SHIB bearish trend. Let’s dive into technical analysis of the token to know what’s going to happen.

Technical: SHIB bearish trend confirmed

SHIB bearish trend
SHIB price chart by tradingview

Technical analysis of the SHIB shows that token has entered into the downtrend. SHIB has miner support at $.00004491 and another major support at $.00003302. SHIB bearish trend is confirmed but as you know meme token mostly rely on the news. Despite this confirmation, if any major news comes than the token can gain momentum again. The news of SHIB’s listing on Kraken exchange or Robinhood exchange can reverse this SHIB bearish trend.

A good news or any comment from the Dogecoin lover Musk can change this ongoing downtrend. DYOR.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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