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Shiba Inu (SHIB) Drops in Volume and Price: What’s Next?
Shiba Inu (SHIB) is expected to appreciate by 150% in 2024. However, between December 10 and 16, the memecoin's trading volume decreased by US$2.80 billion.
This move coincides with the 10% drop recorded last week. In this sense, will SHIB experience a prolonged decline?
Interest in Shiba Inu falls from last week’s highs
On December 10, Shiba Inu’s trading volume was $3.58 billion. Typically, an increase in volume indicates growing investor interest and increased market liquidity. In most cases, this is seen as a good sign. Therefore, it was not surprising that the increase in volume coincided with the memecoin’s price recovery to $0.000030.
This move coincides with the 10% drop recorded last week. In this sense, will SHIB experience a prolonged decline?
Interest in Shiba Inu falls from last week’s highs
On December 10, Shiba Inu’s trading volume was $3.58 billion. Typically, an increase in volume indicates growing investor interest and increased market liquidity. In most cases, this is seen as a good sign. Therefore, it was not surprising that the increase in volume coincided with the memecoin’s price recovery to $0.000030.
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