Shiba Inu (SHIB) Investors note: The rise depends on Bitcoin! Next are these levels...

Shiba Inu (SHIB) has experienced a volatile trend in recent weeks. Despite attempts to achieve a rise with the support of investors, current market conditions will determine whether this effort will be successful. In particular, the trend of Bitcoin (BTC) has become one of the most important factors influencing the fate of SHIB. If Bitcoin shows a strong upward trend, Shiba Inu may also break through important resistance levels on this momentum.
The key Shiba Inu support level is weakening.
The market indicators for Shiba Inu show that short-term investors have realized substantial profits, thus tending to sell. The MVRV ( market value to actual value ratio ) has reached its lowest level in the past six months. This indicator particularly suggests that short-term investors have gained significant returns, which may lead to increased selling pressure.
Typically, short-term investors tend to realize profits when prices rise. This may limit the upward trend of Shiba Inu and lead to a price decline. On the other hand, the support from long-term investors also seems weak. This makes SHIB's position in the market even more fragile.
How will Bitcoin affect the future price of SHIB?
The correlation between Shiba Inu and Bitcoin is currently 0.77. Therefore, it can be said that the price of SHIB largely follows the movement of BTC. If Bitcoin enters a pump trend, Shiba Inu will also capture similar momentum. We previously mentioned that the expectation for the rise in Bitcoin's price is dominant in the short term.
The breakthrough of Bitcoin at the level of $90,000 may create a broader trust environment in the crypto market. This situation could help SHIB break free from the current sideways trend, surpass resistance points, and start to pump.
Currently, the trading price of Shiba Inu is $0.00001296, with the recent support level at $0.00001275. If this support level cannot be maintained, SHIB may fall back to $0.00001141. However, if Bitcoin starts to pump, SHIB may first test the resistance level of $0.00001462, and then reach the level of $0.00001676.
The Shiba Inu (Shiba Inu) needs to show a more positive price trend, first breaking through the level of $0.00001462 and establishing it as a strong support level. If this is achieved, we may see the beginning of a stronger rise trend for SHIB.
Overall, the price trend of Shiba Inu largely depends on the performance of Bitcoin. If BTC approaches the level of $90,000, SHIB may also experience an upward breakthrough. However, if Bitcoin declines, the downside risk for Shiba Inu will also increase #特朗普数字资产峰会发言 .