Shiba Inu (SHIB) Investors Resist the Decline Despite 11% Price Drop

Shiba Inu holders are showing strong resilience, with longer holding periods indicating confidence and potential for recovery. Increased network activity, coupled with price divergence, suggests a potential SHIB price rebound in the short-term. The key support level at 0.000024$ is crucial; holding it could push the price towards $0.000034, but breaking it could see the price drop to $0.000019.

💡 Quick Look:

On the daily chart, the Accumulation/Distribution (A/D) indicator has risen. This indicator combines volume and price to assess whether the cryptocurrency is in an accumulation or selling phase. When the indicator is falling, it means that selling pressure is higher than accumulation. On the other hand, a rising indicator indicates increased buying pressure, which is currently the case with SHIB.

However, bulls may need to defend the support level at 0.000024$ to confirm this hypothesis. If that happens, SHIB price could rise towards $0.000034. If bears break the support, the price could drop to $0.000019.