Shiba Inu was consolidating at $0.00001718 on Oct. 9, down by 21% from its highest point this month. This retreat means that the second-largest meme coin has moved into a local bear market.

Shiba Inu’s underperformance is likely due to the ongoing rotation to newer meme coins that are generating strong returns. SPX6900 has soared by over 300% in the last seven days, bringing its market cap to over $562 million.

Popcat, a popular Solana meme coin, has surged by over 13,500% from its lowest point in January. Some of the other top-performing new coins are Neiro (NEIRO), Gigachad, and Apu Apustaja.

SHIB’s rebound will be confirmed if it moves above the crucial resistance level at $0.0000187, its highest swing on Oct. 6. A move above that level could point to further upside, potentially to $0.000021, its highest level on Sept. 27.

Do you guys still trust in shiba inu .? I still trust it can make a significant move in the upcoming bull run. Not Financial Advice (DYOR) Show Less