Shiba Inu (SHIB) Price Prediction March 20, Is There a Buy or Sell Signal?

Bittime - The cryptocurrency market has recently experienced quite a lot of turmoil, and of course many crypto fans are feeling anxious. This includes Shiba Inu (SHIB) traders.

Since last February, SHIB price has fallen significantly, losing more than 34%. So, what will happen to the SHIB price on March 20? Are there any buy or sell signals we can monitor?

SHIB Price Continues to Fluctuate

Let's look deeper, the price of Shiba Inu (SHIB) has seen a decline from a high of $0.00001894 to a low of $0.00001238. This is a fairly sharp decline in a relatively short time.

In fact, some of its biggest supporters are starting to disappear from the social media radar, which indicates that market conditions are not friendly.

However, what are the circumstances Shiba Inu (SHIB) really that bad? Even though the SHIB price has decreased, there are several signals indicating that the price will not fall further until it adds another zero behind it.

Is It A Signal To Buy?

Before we decide whether it is a good time to buy SHIB, let's look at further market data. Some market observers predict that the $0.00001 price level remains an important support level for SHIB.

In fact, recently price SHIB briefly touched $0.00001082, but quickly moved up 26% to $0.0000138. This shows that even though prices have fallen, there are efforts to push prices back up.

However, after the increase, SHIB had to face the fact that there was another decline of around 10% in the following three days.

That shows that the market is still hesitant, and SHIB has not fully recovered. Even so, there is hope that the SHIB price can rise again if it is able to stay above this support level.

Bollinger Bands Be a Guide to Entry?

One of the indicators widely used by traders to analyze price movements is Bollinger Bands.

SHIB is currently failing to stay above the middle band of the Bollinger Bands, which means there is a possibility that the SHIB price will fall further and test the lower band located at $0.00001123.

However, don't worry too quickly, because although the SHIB price could fall further, there is no indication that the SHIB price will fall below $0.00001.

This means there is potential for SHIB to survive and start moving back in a more positive direction, even though the market is very dynamic and can change in an instant.

Sell ​​or Buy Signal?

So, what can we conclude from the Shiba Inu (SHIB) price prediction for March 20? Overall, although the SHIB price has experienced a significant decline in the last few weeks, there is no indication that the price will fall further to zero again.

With a strong support level at $0.00001, and technical indicators such as Bollinger Bands indicating the potential for price to test this level, this could be an opportunity to buy SHIB in the hope that the price will rise again.

However, as with the crypto market in general, things can change in a matter of hours.

Therefore, it is very important for investors to remain careful and always monitor market movements. Are you planning to buy or sell SHIB? Only time will tell!

Conclusion

SHIB price is currently still under pressure, but the existing support level gives hope. However, the decision to buy or sell still depends on your personal analysis and constantly changing market conditions.

FAQs Shiba Inu (SHIB)

1. What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) is a cryptocurrency that belongs to the meme coin category, inspired by the famous Shiba Inu dog in Japan. SHIB was first launched in 2020 and quickly became popular among the crypto community thanks to its large and loyal community.

2. What influences the price of SHIB?

The price of SHIB is influenced by many factors, including overall crypto market movements, investor sentiment, and developments and updates made by the SHIB development team.

3. Is SHIB still worth buying?

SHIB is still considered to have investment potential, even though the price often fluctuates sharply. It is important to do research first and consider support levels and market trends before deciding to buy.

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References

Telegram Account, U.Today, accessed March 19, 2025

Author: Fkey