Shiba Inu (SHIB) March 14 Price Analysis: Support on the Brink, Breakthrough or Bottoming Out?

Shiba Inu (SHIB) has been the subject of much attention in the crypto sphere, especially during the 2021 bull market. This dog-themed coin, created by an unknown developer, quickly gained popularity, largely due to its low price and potential for high returns.

However, like many other meme coins, SHIB has faced a rough patch recently, with its price adjusting significantly. As we approach the middle of 2023, SHIB is trading at a fully diluted valuation of $7.2 billion, with a 24-hour trading volume of $169 million, having decreased more than 22% in the past four weeks.

However, like many other meme coins, SHIB has faced a rough patch recently, with its price adjusting significantly.随着2023年中期，Shib的交易估值为72亿美元，交易量为1.69亿美元，在过去四个星期中减少了22％以上。

As of March 14, it is fluctuating around $0.00001239, not far from the historical key support area of $0.0000128-$0.00001. If it can't hold, further adjustments may be on the horizon.

But, SHIB has always been the ‘little follower of Ethereum’; if ETH can make a strong rebound, it is quite likely that SHIB will follow suit, potentially even experiencing a significant rebound.

From a technical perspective, if SHIB can hold its current support and market sentiment improves, its primary challenge will be the resistance zone of $0.000021-$0.000025. This is where it has faced setbacks multiple times recently, and whether it can break through will directly determine SHIB's short-term trend.

从技术角度来看，如果Shib能够保持其当前的支持和市场情绪的改善，其主要挑战将是0.000021- $ 0.000025的电阻区。 This is where it has faced setbacks multiple times recently, and whether it can break through will directly determine SHIB's short-term trend.

Shibarium Ecosystem: SHIB's Moat?

SHIB is no longer just a meme coin; the Shibarium Layer 2 ecosystem is rapidly expanding, already supporting a dozen DeFi protocols, with a total locked value (TVL) of about $1.71 million.

SHIB is no longer just a meme coin; Shibarium第2层生态系统正在迅速扩展，已经支持了十几个Defi协议，总锁定值（TVL）约为171万美元。

More importantly, SHIB's burning mechanism is gaining momentum, with the burn rate surging 27,787% in the past 24 hours, accelerating the reduction of circulating supply and providing support for long-term value.

更重要的是，Shib的燃烧机制正在增强动量，在过去的24小时内燃烧率飙升了27,787％，加速了循环供应的减少并为长期价值提供支持。

In the short term, SHIB is at a critical point, with the support range of $0.0000128-$0.00001 being crucial. If it fails to hold, a deeper correction may follow; however, if it holds and rebounds with ETH, it may challenge the resistance zone of $0.000021-$0.000025.

Will the ShibArmy continue to hold strong faith, or will this wave wash them out? Stay tuned!

Will the ShibArmy continue to hold strong faith, or will this wave wash them out?敬请关注！