Shiba Inu (SHIB) Investors Lose $7 Billion Amid Price Drop😳

Shiba Inu's (SHIB) value has fallen sharply, aligning with the broader market downturn and causing significant losses for its investors. The meme coin has dropped nearly 40%, resulting in a staggering $7.3 billion loss for SHIB holders.

Recent data from the Global In/Out of the Money (GIOM) indicator shows that around 424 trillion SHIB, purchased between $0.00001700 and $0.00001900, is now in the red. As SHIB’s price declined over the past month, an additional 190 trillion SHIB also slid into losses.

Despite these heavy losses, Shiba Inu investors are not giving up. The Mean Coin Age (MCA) indicator, which tracks the average age of coins in the network, shows that many investors are holding onto their SHIB rather than selling. This suggests a strong belief in the coin's potential recovery.

Shiba Inu’s price could rebound in the coming days, but it faces resistance at $0.00002093. To surpass this, SHIB would need strong bullish signals. Conversely, if the price continues to fall, it might reach a critical support level at $0.00001473, risking further losses.

While Shiba Inu investors have endured substantial losses, their commitment to holding their assets signals a potential for recovery. The next few days will be crucial in determining whether SHIB can break through its resistance or if it will face further declines.

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