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Cryptocurrency News Articles

Shiba Inu (SHIB) Stands Out Amidst a Bear Market in the Meme Coin Sector

Jan 31, 2025 at 05:30 am

Shiba Inu (SHIB) has become one of the most remarkable coins in the year 2025 amid a significant decline in other meme coins.

Shiba Inu (SHIB) Stands Out Amidst a Bear Market in the Meme Coin Sector

Shiba Inu (SHIB) has managed to stand out among other meme coins in 2025 despite a significant decline in the meme coin market. While other coins have faced substantial losses, SHIB has been able to lose less than 20% in January, making it a better investment during this bear market in meme coins.

According to InvestingHaven, SHIB's strong performance can be attributed to several factors, including the formation of a bullish W-reversal pattern, which is a technical indicator used to predict a price rise. Additionally, SHIB is currently trading at key Fibonacci levels, which are common zones for many coins to reverse their trends. This technical setup indicates that SHIB is well placed to appreciate if the market conditions become favorable.

"Meme coins have faced a lot of adversities over the past few months. The Memecoins Index, which includes a number of meme coins, has fallen by 75% from the recent peak. This sharp decline has pushed meme coins back to their 2024 levels, which reinforces the fact that this sector has been under a lot of pressure," as per CryptoRand.

However, Shiba Inu has been quite stable compared to other meme coins in the market. This is evident through the token’s stability in holding its value during this bear market. This is unlike other meme coins which have been more affected than SHIB, proving that the token is strong in a bearish market.

The current focus has also shifted to Shiba Inu's performance. Currently with a bullish technical setup and the strength to hold support levels, Shiba Inu is expected to rise. If the market starts becoming bullish again, then SHIB can definitely gain a lot.

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Other articles published on Feb 01, 2025