Shiba Inu Investors Suffer Losses
Shiba Inu, once dubbed the “Dogecoin killer,” has experienced significant price fluctuations recently. After initially achieving notable gains and becoming the second-largest meme coin, SHIB has seen a deep decline post-March despite its earlier high trading volumes. The coin’s volatile nature has now drawn significant attention to investor actions.
What Are Current Investor Trends?
Recent drops in Shiba Inu’s price, largely influenced by #bitcoin downturn, have pushed the meme coin to its lowest levels in several months. This decline has resulted in substantial losses for investors, who missed out on potential profits. The Global In/Out of the Money (GIOM) indicator revealed that approximately 66.75 trillion SHIB was bought at prices between $0.00002100 and $0.00002500. If the price had remained stable, the $1.38 billion supply could have yielded significant gains.
How Has the Market Impacted SHIB?
Shiba Inu’s value dropped below the previously mentioned levels, trading around $0.00002071 at the time of reporting. Additionally, its RSI value fell to 40.58, highlighting a weakening buying pressure. Typically, an RSI below 50 indicates a shift from buying to selling pressure in the market.
