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The cryptocurrency market is experiencing significant fluctuations, with Bitcoin 
$103,043 falling below $97,000, leading Shiba Inu’s price to hover around $0.000015. Amid growing uncertainty, both established and new meme-based digital assets are showing declines.
Overall Market Overview
The total market capitalization of meme-based assets has decreased by 1% in the last 24 hours. Some newly launched tokens have significantly lost value, with the meme market suffering a $44 billion loss over the past three weeks. This situation has prompted investors to take a cautious approach towards the market.
Technical Analysis and Key Levels
Technical analysis reports reveal that Shiba Inu is trading at key support and resistance levels. Despite buyers stepping in at the support zone around $0.000014, resistance levels at $0.000016 and $0.00002 remain crucial to watch. Overcoming these critical areas could pave the way for stronger upward movement.
While some recently launched tokens are struggling after initial activity, more established digital assets are regaining attention. There is speculation that older meme-based digital assets may play a role in the market’s recovery. Investors are adjusting their action plans according to the identified levels.
As indicated by technical indicators, potential recoveries in the support area could present buying opportunities. Although the RSI is hovering at a neutral level, changes in market dynamics are anticipated as critical resistance areas are approached.
Current market data shows that investors are considering both the potential for upward movement and the risks of sudden declines. Close monitoring of whether critical technical levels will be surpassed is expected, and cautious steps are being taken.
