Shiba Inu's short-term future looks grim: slow network activity is to blame

Shiba Inu ( SHIB ) prices present a nuanced picture across various market indicators.

On one hand, certain indicators point to stabilizing activity, suggesting cautious investor optimism. On the other hand, emerging technical patterns and fluctuating investor interest indicate the potential for upcoming volatility.

Slow Shiba Inu network activity

An analysis of Shiba Inu's average transaction size over the last month paints a narrative of rapid growth followed by stabilization.

Initially, average transaction size dropped drastically, falling 81.23% in less than two weeks. However, after this drop, transaction size began to stabilize, suggesting that SHIB prices are heading toward a more stable phase.

SHIB average transaction size.

The RSI had been in overbought territory but recently dropped from 90 to 78. The decline in the RSI, while still indicating overbought conditions, suggests that the buying momentum behind Shiba Inu is slowing.

This trend could hint at a shift in investor sentiment, which could lead to a price correction as the market adjusts to these changing dynamics.

SHIB Price Prediction: Falling Again

While some indicators suggest that SHIB price may be entering a consolidation phase, the recently formed death cross has raised concerns about a potential bearish turn.

The technical indicator suggests a possible downtrend that could spark a new correction for Shiba Inu. Depending on the market reaction, SHIB could face a downturn of $0.000019

#SHIB #Meme #sui #热门话题 #btc

The article ends here, spot ambush, wealth code. Free sharing.

Click on my avatar to follow and enter Junyang.