Falling Channel Traps Shiba Inu

As the second biggest meme coin in the crypto industry, Shiba Inu ranks 11th in the broader market with a market cap of almost $13.5B. However, the bearish impact of Bitcoin’s struggling performance has led to a pullback trend in SHIB price.

The meme coin declines under a falling channel pattern as the buying pressure decreases. Currently, the SHIB price is taking a lateral shift as the $0.000020 level becomes a bullish fort.

With the bullish divergence in the RSI line bolstering the possibility of an uptrend, Shiba Inu stands at a crossroads. As per the trend-based Fibonacci levels, the channel breakout rally will pump the SHIB price to $0.000041.

Conversely, a drop under $0.000020 will test the support trendline close to $0.000018.

full analysis: https://coinpedia.org/price-analysis/will-these-top-meme-coins-perform-in-may/