SHIB has been trading within a descending channel since mid-March and has dropped 60% from the local high. Recently, it broke above the descending channel and has so far maintained its price at a decent level.
The current price is around $0.00002540, with immediate support at $0.000023. Both the 50 and 100 EMAs seem to be strong support for now.
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A bounce-back from either support will likely lead SHIB to a decent rally.
