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SHIBA Inu (SHIB) Price Struggles Below $0.000032, Is Trend Reversal On The Cards?

SHIBA Inu (SHIB) price has shown some impressive gains after week-long consolidation. The rally is now facing some strong resistance near higher levels. As of writing, SHIB/USD is trading at $0.000031, up 1.42% with a 24-hour trading volume at $2.95 billion.

SHIBA (Inu) SHIB price remains range-bound on Wednesday.
The price face multiple rejections near $0.000035.
SHIBA gained more than 40% over the last week.

Read More: Shiba Inu Announces Metaverse ‘Properties’ Up For Sale/Auction
Shiba Inu looks for impressive gains
Shiba Inu’s (SHIB) price has lost 60% in value from the highs made on November 30. They tested all lows in January at $0.000016. Investors find some buying opportunity near the demand zone, the price surged more than 70% over the past week. This also marks the break out of a nearly two-week consolidation range. The metaverse coin echoed the overall recovery in the crypto market.
Source: Trading View
However, the current run-up seems to be limited near the descend

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