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SHIB Bounces From a Faithful Support Level but the Bulls Could Still Be in Trouble

The World Economic Forum had invited Shiba Inu to participate in discussions around the metaverse as revealed by a tweet from Shiba’s lead developer Shytoshi Kusama. Shiba Inu also noted a 15.9% move upward in the past three days.

Bitcoin neared the $16.7k-$17k resistance zone. Ethereum also saw some bullishness recently, but its higher timeframe bias remained bearish. As things stood, buying and holding could be a risky strategy for market participants eyeing the Shiba Inu asset. Altcoins can see a drawdown of 90%, and a 90% yet again, so patience could be key for buyers of coins like SHIB.

(By Akashnath S)

SHIB Crypto Shiba Inu
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