Shiba Inu is stuck in a state of uncertainty. The latest news about the SHIB coin shows a classic picture: the price is almost at zero, down 0.82% over the day, trading volume has fallen to $447,000. Meanwhile, new tokens have flooded into exchanges — about 200 billion SHIB have been transferred in a short period. When traders move coins from wallets to platforms, it’s usually a precursor to a sell-off.



The RSI index is at 55 — pure neutrality. Neither bulls are pushing nor bears are panicking. Everyone is just waiting. Interestingly, the number of active addresses on the network has increased by 1%, but the price has not gone up — demand clearly isn’t keeping up with supply. The pattern on the daily chart indicates distribution: it seems holders are gradually offloading their positions.

The critical support level is at 0.0000052. If inflows to exchanges continue to grow and buyers remain on the sidelines, this level could be tested. Currently, the market is in a consolidation mode, and there are no obvious catalysts for growth. Everything depends on whether demand can absorb the increasing supply. For now, the balance is clearly shifting in favor of sellers. News about Shiba Inu coin does not promise a quick reversal.
SHIB-0.17%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin