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Shiba Inu It erased all the gains made during the market rebound nearly a month ago by retreating to pre-pump levels. There are concerns about the condition of the asset and the actions of important market players in light of this sharp decline. A decline in price indicates a loss of momentum Gray It falls below important support levels; It is currently trading at around $0.00002217.
This bounce shows that the asset is open to further declines as the bullish push from late November has completely faded. This sharp decline is due to a lack of buying pressure and a decline in enthusiasm among retail investors.
A worrying pattern emerges from the volume analysis: the sharp sell-off is accompanied by a significant spike in trading activity, suggesting that whales and large holders used the previous rally to sell off large portions of their holdings. This supports rumors that early investors took advantage of the short-term rally to take profits, leaving new investors vulnerable to falling prices.
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to fail Gray Maintaining its gains indicates greater difficulties in the market. Given that speculative activity has largely driven the assets' recent performance, a rebound to pre-pump levels indicates a lack of sustained interest from long-term investors. These sales also indicate that the Shiba Inu has not yet gained a strong following among its current members and potential newcomers.
Technically, Gray It fell below the 50 and 100 moving averages, which are crucial signs of potential trend reversals. Around $0.0002047 near the 200 EMA is the next crucial support level. SHIB may face further declines in value if it is unable to maintain this level. The future of the Shiba Inu is currently unknown.
Strong demand is essential to sustain price growth and avoid over-reliance on speculative rallies, as the sell-off highlights. SHIB may continue to struggle in the absence of new catalysts or renewed investor interest, leaving its community wary of signs of improvement.
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