- Shiba Inu has experienced a sharp decline amid the broader crypto market correction.
- Analyst Javon Marks believes the current dip could lead to a substantial price increase.
- Market intelligence platform Santiment reports negative sentiment towards SHIB is at its highest level this year..
Shiba Inu (SHIB), the popular meme-based cryptocurrency, has suffered a significant price drop amid a wider crypto market correction.
Despite falling 12% in 24 hours compared to Bitcoin’s 1% drop and hitting a four-month low, some analysts believe this downturn presents a buying opportunity and that the token’s long-term prospects remain positive.
Over the past week, Shiba Inu has declined over 20%, with a 29% drop in the last 30 days. Despite the bearish trend, analysts like Javon Marks believe this correction could pave the way for a substantial price increase.
$SHIB (Shiba Inu)'s price is still up over 100% since breaking out of the displayed resisting trend which can be letting us know that a RUN is IN-EFFECT!The post Can Shiba Inu Defy the Crypto Market Downturn? Analysts Weigh In appeared first on Coin Edition.With prices being broken out, the target is at $0.000081, meaning another +294% upside from here to reach it can take place… https://t.co/768GdhkTAk pic.twi…