Shiba Inu Coin (SHIB) Crisis: No Hope for Recovery, Trading Volume Plummets
With bullish momentum sharply decreasing, traders and investors have doubts about its long-term upward trend.
Currently, the trading price of SHIB is approximately $0.00002215, and the previous rebound trend has reversed.
The 100 EMA near $0.00002255 acts like a solid wall, blocking the price from rising, revealing a bearish atmosphere. The market lacks confidence in SHIB's rise, and its inability to break through this key level means its recovery efforts are essentially over.
More worryingly, SHIB's trading volume has significantly declined, which is undoubtedly a clear signal of reduced market interest. When the rebound falters, the shrinking trading volume indicates that market participants are unwilling to lend a hand, making it difficult for prices to reverse the downward trend, turning bullish expectations into illusions.
Clearly, the speculative fervor for SHIB has greatly diminished, as there is currently no market catalyst to turn the tide, making its future direction increasingly uncertain and concerning.
Looking ahead, Shiba Inu is expected to find direct support around $0.00002055, which is at the 200 EMA. If this defense line is breached, the price may further dip, approaching the psychological support zone of $0.0001900.
To regain upward momentum and challenge the next resistance level near $0.00002494, SHIB must reclaim the critical 100 EMA point of $0.00002255.
Currently, the overall market is expanding, and in contrast, Shiba Inu's sluggish performance stands out, highlighting the difficulty of maintaining investor interest.
