#加密市场盘整
Shocking! SHIB trading volume soared 238.58% in 24 hours, and the market trend suddenly changed!
SHIB price is about to make a big move, and the burn rate soared 23,000%!
According to the on-chain analysis company IntoTheBlock, although the price of Shiba Inu Coin (SHIB) has been fluctuating, this popular second-largest crypto coin by market value has attracted great attention from crypto giants. Today is December 18, 2024, and IntoTheBlock revealed that SHIB's trading volume has soared 238.58% in the past 24 hours.
SHIB bearish outlook
This trading volume surged just as SHIB began to receive selling pressure and formed a bearish price pattern near the resistance level. However, SHIB's bearish outlook came against the backdrop of a significant rebound in major cryptocurrencies such as Bitcoin (BTC) and XRP.
SHIB Technical Analysis and Future Trends
According to CoinPedia's technical analysis, SHIB has formed a bearish inverted cup-with-handle price pattern on the daily chart, and is about to fall. But this is also the resistance level that SHIB encounters in this price pattern.
Judging from the historical price trend, if SHIB falls below this bearish pattern and the daily closing price is below $0.0000258, it is likely to fall to $0.0000206 in the next few days, a drop of up to 20%.
However, SHIB's price has not made much progress for more than a month and has been fluctuating. But the recent price trend has some signs of downward movement, and the selling pressure is high, and it may continue to fall in the next few days.
But then again, SHIB's relative strength index (RSI) is now 55, which is not yet in the overbought zone. This indicator shows that SHIB still has room to rise in the next few days.
Current price situation
Now, the price of SHIB is around $0.000026, down 2.65% in the past 24 hours. At the same time, trading volume also dropped by 17%, indicating that traders and investors are not very active under the bearish outlook.
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