Shiba Inu (SHIB) price reaches the level before the surge: What happened?
Brothers, pay attention, we will start broadcasting soon, online analysis of market dynamics
Shiba Inu (SHIB) has recently retreated to the level of previous surges, almost erasing all the gains made during the market recovery a month ago. At this time, there are concerns in the market about the current state of the asset and the behavior of major participants. The price decline reflects a loss of momentum, especially when SHIB fell below a crucial support level, leading to its current trading price of about $0.00002217. This retreat marks the complete fading of bullish momentum since the end of November, suggesting that the asset may slide further.
The main reason for this significant drop is the lack of buying pressure, and the enthusiasm of retail investors has waned. Through volume analysis, we see a concerning pattern—massive sell-offs accompanied by a surge in trading volume. This indicates that whales and major shareholders are cashing in on profits from the previous rebound, while new investors are more easily affected by price declines.
SHIB's failure to maintain its upward trend indicates that the market may face greater challenges. Considering the recent dominance of speculative activity in its performance, the retreat to previous levels signifies a lack of enduring interest from long-term investors. This sell-off further indicates that Shiba Inu has not gained a strong supporter base, whether among existing community members or potential newcomers.
From a technical perspective, SHIB has fallen below the 50-day and 100-day EMA, two key technical indicators suggesting that a trend reversal may be occurring. The next important support level is around $0.0002047 near the current 200-day EMA. If SHIB cannot maintain this level, its price may continue to decline. Due to the lack of new stimuli or a resurgence in investor interest, SHIB's outlook remains uncertain. Strong demand is crucial for maintaining price increases, and this is being warned by the current sell-off.
Brothers, pay attention, we will start broadcasting soon, online analysis of market dynamics