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Shiba Inu Price Analysis: SHIB Token Retraced To 0.5 FIB Level, Will It Resume Its Rally Or Dip More?

The meme star Shiba Inu is still holding onto the higher levels of its chart. A piece of recent news that has interested the SHIBA investors is that AMC Entertainment is considering the SHIB token as a payment option at the company’s theaters. As the overall trend for this token is still bullish, Will it continue this rally?
Key technical points:

The SHIB token trying to sustain above the 0.5 FIB level
The daily RSI chart shows a significant drop in its value
The intraday trading volume in the SHIB token is $3.5 Billion, indicating a 44% loss

Source- SHIB/USD chart by Tradingview
On October 27th, the SHIB token made a New All-Time High of $0.00008734; however, the price couldn’t hold to this level and entered a retracement which plunged this token to the 0.5 Fibonacci retracement level.
The SHIB price is still trying to sustain above this support level. The crucial EMAs suggest the token’s uptrend remains intact as its price is trying above the 50 and 100 EMA.
The Relative Str

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