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SHIB Price Prediction for February 28

Fri, 28/02/2025 - 14:59
How long is price drop of SHIB going to last?
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SHIB Price Prediction for February 28
Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Most of the cryptocurrencies are in the red zone today, according to CoinStats.

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Top coins by CoinStats

SHIB/USD

The price of SHIB has declined by 7.47% since yesterday.

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Image by TradingView

On the hourly chart, the rate of SHIB has made a false breakout of the local support of $0.00001305. 

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However, if the daily bar closes near that mark, traders may witness a test of the $0.00001250 area soon.

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Image by TradingView

On the bigger time frame, the price of SHIB has once again bounced off the interim level of $0.000013. However, if its breakout happens, the accumulated energy might be enough for an ongoing drop to  $0.00001231.

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Image by TradingView

From the midterm point of view, one should focus on the bar's closure in terms of the support level of $0.00001231. If the weekly candle closes below it, there is a possibility to see a test of the vital area of $0.000010 soon.

SHIB is trading at $0.00001353 at press time.

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