Shiba Inu experiences rebound amid overselling

According to U.Today, Shiba Inu's recent price action indicated that the asset had become significantly oversold, making it an attractive option for traders looking for a rebound buy. This overselling often suggests a possible technical rally, as it usually means that the price has fallen too drastically and too quickly. These bounces are usually temporary and tend to be due more to technical problems than underlying advances.

Despite the brief recovery, a possible medium-term downtrend is still on the horizon, especially if overall market conditions remain negative. Shiba Inu's recovery also aligns with a general market pullback. In recent days, several assets have seen significant losses due to intense selling pressure in the cryptocurrency market.

Shiba Inu followed the market reversal trend as signs of relief began to emerge. This slight respite for the entire market helped stabilize SHIB's price and aided its recovery. The collective market recovery effort created a conducive environment that allowed the SHIB price to rise above its lows.

Another key factor in SHIB's recovery is the apparent lack of whale activity. Whales, by selling large amounts of tokens, can significantly influence the market. However, the lack of whales meant there was less pressure to sell SHIB. With many cheap tokens available for purchase due to the absence of whales, it is easier for smaller investors to invest without fear that large sales will drive the price down even further. The environment for SHIB recovery is now more stable as there is no downward pressure from the whales.$SHIB #SHIB🔥🔥 #Shibalnu #SHİB