Shiba Inu (SHIB) Faces Three-Week Stalemate: No Rally in Sight

Shiba Inu (SHIB) is struggling to break out of its recent consolidation, leaving investors doubtful about a near-term rally. Despite multiple attempts to push higher, SHIB remains stuck, with market conditions weighing heavily on its price.

Investor sentiment around Shiba Inu has turned sharply negative, with bullish hopes fading fast. The weighted sentiment has dipped into negative territory for the first time since late July, signaling growing pessimism among SHIB holders. This lack of confidence could further hinder any potential price rally.

Shiba Inu's Moving Average Convergence Divergence (MACD) indicator has flashed a bearish signal, suggesting the downtrend could last another 23 days. This pattern indicates SHIB may remain stuck in its current range, with little chance of a breakout until late September.

After a failed attempt to break out of its $0.00001462 to $0.00001281 range, SHIB is likely to continue moving sideways for the next three weeks. While a breakout above $0.00001462 could signal recovery, the odds are uncertain given the current market sentiment.

Shiba Inu’s price action remains locked in a tight range, with limited potential for a rally in the near future. Investors will need to wait and see if SHIB can shake off this bearish momentum and stage a comeback later this month.

Don't do any st*p*d! HOLD if you are already in or BTFD! Not financial advice!

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