Return of the basic Shiba Inu (SHIB) scale

Return of the basic Shiba Inu (SHIB) scale
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.

Short-term stockholders, a crucial fundamental indicator, are pointing to a potential influx of new investments making Shiba Inu appear to be recovering. This indicator has been rising, indicating new interest from new players in the market, which is necessary to assess current demand. This data indicates that Gray It may not be as weak as it seems despite the recent bearish signs Weeks.

Currently, 43% of SHIB holders are losing money, compared to 52% of those making money. In the face of increasing market uncertainty, this configuration demonstrates the resilience of the market Gray The network is. A growing number of short-term holders indicates growing demand, and if this trend continues, it could mark the beginning of a potential rally. However, the signals on the chain give conflicting information.

Article image
SHIB/USDT chart by TradingView

At 0.38%, the measure of net network growth is a bit pessimistic, and the sharp decline in large transactions of 14.39% indicates a decline in whale activity. Large investors may take a cautious approach, perhaps waiting for stronger bullish signals before returning to the market.

Related to

Peter Brandt's New Bitcoin Prediction May Shock Bulls with a Bearish Reality

Technically, SHIB is currently trapped in a critical battle zone for price action between the 50 and 200 EMAs. While a drop below $0.00002059 may force... Gray To new lows, a clear move above $0.00002406 could signal the start of an uptrend. Since they are likely to set the course for SHIB, it is important to monitor these levels in the coming days. The improving gauge offers short-term bondholders hope despite the difficulties.

It represents new investment and growing optimism about SHIB's potential comeback. If this trend continues and there is additional support in the market, SHIB may be able to break through the current resistance levels and attract more capital. The key now is patience.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *