According to CoinGecko data #shiba⚡ Inu saw a 25% increase in 24-hour trading volume. SHIB's open interest (OI) decreased by 11.49% in the last 24 hours. Market imbalance zone around $0.0000115, #SHIB🔥🔥 It poses a long-term decline threat of 26% for
According to Shibarium Scan, Shib developers continue to build despite the falling price, and the number of transactions on the network reached an all-time high today.
According to Coinalyze, SHIB open interest (OI) is down 11.49% in the last 24 hours, meaning investors are withdrawing money from the asset.
Moreover, the ratio of investors opening long positions in SHIB to investors opening short positions in the asset is 1.89 and in a downward trend, indicating that investors are bearish towards the asset.
Shiba Inu price may be in a downtrend characterized by lower highs and lower lows. The asset recently broke out of a descending triangle, retesting the bottom support to confirm the breakout.
There is little support between the current price and the market imbalance zone around $0.0000115. The recent candles showed selling pressure, confirming the bearish trend.
Shiba Inu price prediction shows that the asset is trending below the 50-day and 200-day exponential moving averages (EMA), confirming the downtrend.
Moreover, the 50 EMA has just crossed below the 200 EMA, signaling a death cross. SHIB price movement is expected to trend further downwards in the coming days.
Key resistance levels to watch out for include $0.00002362, $0.00002998, and $0.00003363, while the $0.00001361 and $0.00000996 levels may provide further support for a break below the fair value difference (FVG).
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