DeFi & NFT
By Pankaj K
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Whale Exodus Leads to Lower Liquidity. The decline in whale activity has had a direct impact on SHIB’s market liquidity, causing the…
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What Does the Weekly Price Action Say?. At the time of writing, SHIB’s price action shows the coin trading within a descending triangle…
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MACD Signals Bearish Momentum. The MACD trend, a key momentum indicator, also reveals bearish conditions.
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Declining Active Addresses and Burn Rate. In addition to the whale activity decline, Shiba Inu has also seen a drop in active addresses.
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Conclusion: Bearish Outlook for SHIB?. Shiba Inu is currently grappling with several signs of bearish pressure, including a sharp decline…
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Shiba Inu (SHIB) has experienced a significant shift in market dynamics recently, with large holders—the so-called “whales”—abandoning their positions in droves.
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The decline in whale activity has had a direct impact on SHIB’s market liquidity, causing the token to become stuck in a bearish range.
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SHIB’s lack of liquidity, combined with the selling pressure from large holders, suggests that the token could face further downward movement unless new investors step in.
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If this support level holds, SHIB could see a rebound and test both the descending trendline and possible upside targets between $0.000030000 and $0.000045000.
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On the other hand, if SHIB moves below $0.000010000, it could signal deeper bearishness, with support levels potentially reaching as low as $0.000007000 to $0.000005000.
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The MACD trend, a key momentum indicator, also reveals bearish conditions. The Signal line remains below zero, and the histogram momentum continues to fall, suggesting a decline…
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However, even with this possible upward momentum, staying above $0.000012500 could be a challenge.
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In addition to the whale activity decline, Shiba Inu has also seen a drop in active addresses. The number of active SHIB addresses decreased by 6.
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Although SHIB’s daily burn rate surged by 49,552%, it did not lead to any noticeable changes in price, further highlighting that on-chain metrics do not always correlate with…
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Shiba Inu is currently grappling with several signs of bearish pressure, including a sharp decline in whale activity, reduced liquidity, and a downtrend in network metrics.
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