1. The price of Shiba Inu ( SHIB ) presents a subtle picture in various market indicators.
On the one hand, some indicators point to a stabilization in economic activity, suggesting that investors are cautiously optimistic.
On the other hand, emerging technical patterns and investor interest suggest the potential for upcoming volatility.
2. Analysis of the average transaction size of Shiba Inu last month
Initially, the average transaction size dropped significantly, falling by 81.23% in less than two weeks. However, after this drop, transaction sizes began to stabilize, indicating that SHIB prices are moving towards a more stable phase.
The RSI had been in overbought territory but recently declined from 90 to 78. The decline in the RSI, while still indicating overbought conditions, suggests that the buying momentum behind the Shiba Inu is slowing down.
This trend could suggest a shift in investor sentiment, which could lead to price adjustments as the market adjusts to these changing dynamics.
3. While some indicators suggest that SHIB price may be entering a consolidation phase, the recently formed death cross has the potential to be bearish, triggering a new correction in Shiba Inu.
If SHIB price manages to break through the current resistance at $0.000032, it could rise to $0.000040. #SHIB
