Token Burn Propels SHIB As Analysts Eye Critical ‘Gray Box’ Support Level
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- SHIB’s sustained upward trajectory hinges on maintaining support at the critical “Gray Box” level.
- Increasing token burn rates contribute to SHIB’s positive market dynamics.
- Technical indicators show potential buying opportunities despite short-term downward momentum.
Shiba Inu (SHIB) has captured the attention of cryptocurrency enthusiasts as it navigates its macro 3rd wave, following a strategic entry at the market’s bottom. As highlighted by Crypto Cipher, an analyst, the key to sustaining this upward trajectory lies in maintaining support at the critical “Gray Box” level, which is a pivotal indicator for bullish momentum. Investors are closely monitoring this threshold, with stop losses now positioned favorably as SHIB continues to exhibit resilience and positive price action.
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