Shiba Inu Returns to 50% Rally Start Level: Crypto Market Review, November 8

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Almost every part of the cryptocurrency market is in red, following depressing price performance on $ETH, $SOL and $SHIB

returns to red after the sell out caused by Binance's desire to sell its FTT holdings. The announcement caused a surge of withdrawals on FTX and general outflows from the digital assets industry. However, investors should not be in a panic.Despite the most recent plunge, Shiba Inu still has some bounce potential. In the last 24 hours, the panic on the market caused a plunge of SHIB token to October's level of $0.00001056.

The return and drop below the 50-day moving average is, unfortunately, a negative sign for Shiba Inu, and it most likely means that the recovery rally is canceled and the token will continue moving in the $0.00000950-$0.00001500 price range.However, the correction on the market does not bring negativity only. By returning to the lower border of the price range, Shiba Inu investors will once again be able to accumulate the token ahead of a significant recovery rally.

 

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