💥 According to U.Today Analytics: $SHIB Battle

Luckily for the market, Shiba Inu has been able to withstand the selling pressure and did not fall below the 50 EMA. But at the same time, the momentum is not there, and SHIB really needs way more support to break through. Shiba Inu has found a crucial support level at the 50-day EMA, which has helped prevent further declines. This support has been vital in maintaining SHIB's price stability in recent trading sessions. The 50 EMA acts as a lifesaver, keeping the asset afloat amid increasing selling pressure.

Recent whale transactions indicate heightened activity among large holders of SHIB. Over the past 24 hours, there have been 147 large transactions totaling 1.9 trillion SHIB. This surge in transaction volume suggests that big players are still engaged, possibly redistributing their holdings or preparing for potential market moves.

However, this activity has yet to translate into significant upward price movement, as market momentum remains subdued. Despite the support at the 50 EMA, SHIB's price has not shown strong bullish momentum. The RSI remains relatively neutral, indicating a lack of strong buying or selling pressure. For SHIB to break through current resistance levels and initiate a more substantial upward trend, it needs more robust market support and increased buying interest.