CandleFocus Shiba Inu (SHIB) Bears Gain Ground Over Bulls Amid 22% Price Decline
2024-12-20
Author: Content Editor
The price of Shiba Inu (SHIB) has experienced a significant decline, possibly due to the increasing dominance of bearish sentiment. The value of SHIB has dropped from $0.000024 to $0.000019 in the last two days, in line with the broader market trend. The number of SHIB bears has increased, suggesting that the coin's value could drop further in the short term. Additionally, a decrease in active addresses interacting with SHIB indicates reduced demand and potentially a further decline in price. The Relative Strength Index (RSI) reading shows bearish momentum, and if this trend continues, the price could fall to $0.000015. However, if bulls regain control or the coin becomes oversold, the price could potentially break above resistance levels and rally to $0.000026 or $0.000033.
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