CandleFocus $8 Billion Shiba Inu (SHIB) Threshold Breached: What's Next?
2024-09-06
Author: Content Editor
The cryptocurrency Shiba Inu (SHIB) is facing a significant setback as its market capitalization drops below $8 billion. The lack of purchasing interest in the market is hindering SHIB's recovery, with on-chain data showing little inflow of new funds. The number of large transactions for SHIB has decreased, signaling a loss of confidence from whales and large holders. The price of SHIB remains stagnant, trapped in a downtrend and unable to break above the 200 EMA. With no new buying support, downside risks are likely to increase, and short-term struggles are expected unless there is a noticeable influx of fresh capital. Monitoring indicators like market capitalization and transaction volume can help determine if a turnaround is possible.
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