Shiba Inu (SHIB) faces a critical moment: support is at risk, market outlook is unclear

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Current on-chain data and technical indicators show that Shiba Inu (SHIB) is at a critical market node, and its future trend may be significantly affected.

Technical Analysis of SHIB

Current price: about $0.0000222

Major support levels: 67 trillion SHIB holding area and price levels near 200 EMA.

Key technical levels:

50 EMA: has been broken, and is now the first resistance level that SHIB needs to recapture (about $0.0000250).

200 EMA: As the last bullish defense, SHIB price is currently approaching this important support area.

If SHIB falls below the 200 EMA, its price may further test $0.0000204 or lower, erasing previous bullish gains.

On-chain data interpretation

Declining whale interest: The recent sharp drop in large-volume transactions shows that institutional investors and whales are paying less attention to SHIB, which has an adverse impact on market sentiment.

Low profitability of holders: On-chain data shows that most SHIB holders are currently in a loss-making state, which may further increase selling pressure.

Potential opportunities for speculative buying: If SHIB enters the oversold area on indicators such as RSI, it may attract short-term speculators to enter the market and provide opportunities for a short-term rebound.

Future trends and possible scenarios

Bearish scenario

If the support level (67 trillion SHIB holding area or 200 EMA) fails to hold:

SHIB may quickly fall to $0.0000204.

Panic selling may trigger greater market volatility and further weaken market confidence.

Possibility of a bullish rebound

If SHIB attracts buyers in the current price zone and RSI shows oversold:

SHIB is expected to rebound near the 200 EMA and test the key resistance levels of $0.0000250 and $0.0000300.

The rebound needs a significant increase in volume and a shift in market sentiment as support.

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