🔥 According to Coingape: $SHIB Price Prediction

Coming in tandem with the broader market’s tumbled price movement, SHIB’s price has slipped 2.60% in the past 24 hours and is currently trading at:

- $0,00002485 on KuCoin exchange;

- $0,00002483 on WhiteBIT exchange;

- $0,00002483 on OKX exchange;

The token’s bearish movement today primarily falls in line with the massive amount of SHIB offloaded, as mentioned above.

Coinglass data revealed a 4.89% fall in SHIB’s open interest, reaching $73.43 million, followed by a derivatives volume decrease of 44.25% to $178.04 million. This data added to the bearish sentiments surrounding SHIB, flagging reduced market activity and investor interest.

Nonetheless, the RSI continued to move around 51, hinting that the asset is neither overbought nor oversold. Concerning this, if the selling pressure continues to rise, Shiba Inu could witness a waning price trajectory ahead. Conversely, long-term prospects may shine with bullishness if bulls take control of the meme coin, accompanied by the community’s continued token-burning chronicles.

Additionally, it’s also worth noting that the meme coin’s community revealed a stockpile of upgrades in recent days, aiming to boost SHIB’s tokenomics. Altogether, recent data and developments suggest that although the token may witness short-term volatility, its future glimmers with optimism.