At the beginning of 2023, the Crypto Assets market has been turbulent, with the performance of Shiba Inu (SHIB) being particularly noteworthy. As of now, the price of SHIB has fallen to around $0.00001223, a decrease of 42% since the beginning of the year, and its market capitalization has shrunk to $7.2 billion. In this volatile market environment, competitors such as PEPE and MemeCore are eyeing the situation, attempting to capture SHIB's market share.

However, despite the current severe situation, there are still three key indicators suggesting that SHIB may soon see a rebound:
First, the amount of SHIB being burned has seen an astonishing increase. In the last 24 hours, its burn rate surged by 200,000%. Although the absolute amount isn't huge, this continuous burning behavior will effectively reduce the circulating supply of SHIB in the long run, potentially driving up its price.
Secondly, we observe that funds are flowing out of exchanges. This phenomenon indicates that investors are transferring SHIB to personal wallets for long-term holding, alleviating the selling pressure in the market. This behavior is often seen as a reflection of investors' confidence in the long-term value of the asset.
Finally, from a technical perspective, the Relative Strength Index (RSI) of SHIB has fallen to around 20, which is an oversold range. Historical data shows that when the RSI reaches such a low level, there is often a high probability of a rebound in the asset.
In summary, although SHIB's current market performance is not satisfactory, various signs indicate that it may be approaching the bottom zone. If these indicators are further confirmed, we might witness a strong rebound for SHIB. However, investors still need to be cautious, closely monitor market trends, and make informed investment decisions.
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