Shiba Inu Coin price rises, but is there a risk? Whales transfer 4 trillion SHIB
#新币挖矿&盘前交易USUAL
In the past 24 hours, the price of Shiba Inu Coin (SHIB) has been rising, reaching a high of $0.00002668, but then encountered resistance and fell a bit. Now that the Federal Reserve said that interest rates will remain unchanged for the time being, some investors began to wonder whether SHIB's rise can be maintained or whether it will fall.
Is there really a risk in the price increase of SHIB?
Hey, you don't say, 4 trillion SHIB was quietly transferred between two unknown wallets, worth nearly $100 million, which immediately caused a stir in the cryptocurrency circle. Once the big whales move, the market is likely to shake, because they may want to sell or change positions.
When small investors see that the big whales transfer so many coins, they start to murmur in their hearts, fearing that the price will collapse if they sell.
Sure enough, after this transfer, the price of SHIB dropped by nearly 5%, and the market value also decreased by 5.3%, and now only $14.19 billion is left.
The Fed is cautious in cutting interest rates, and market sentiment is affected
Powell, the head of the Federal Reserve, said that the US economy does not need to cut interest rates in a hurry, so they will "take it slow." This statement has reduced everyone's hope for a rate cut, and the probability of a rate cut has dropped from 83% to 62%.
As soon as Powell said this, the cryptocurrency market fell a little, because low interest rates are good for digital assets. Bitcoin, Ethereum, and SHIB all fell, and SHIB fell 2.5% to $0.00002469.
The Fed is so cautious that some investors may not dare to touch high-risk assets, and SHIB's rise may also slow down.
Technical indicators, SHIB's prospects are unclear
From a technical analysis, SHIB encountered big trouble at $0.00002600 and has not been able to break through in the past few days. If it falls, there is some support at $0.00002480, and the price has rebounded here in the past few days.
However, the 50-day simple moving average (SMA) has already crossed the 200-day SMA, which is a bullish signal. However, the relative strength index (RSI) is 66.59, SHIB is almost overbought, and may need to pull back. The money flow index (MFI) is 47.32, and the buying and selling pressures are similar
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