CandleFocus Shiba Inu (SHIB) Price Gains Momentum: Indicators Point to Potential Rally
2024-11-05
Author: Content Editor
The article discusses the potential for growth in the price of Shiba Inu (SHIB), a cryptocurrency. Several indicators suggest that there is room for an upward trend in the price. The 7-day MVRV metric shows that SHIB holders are near break-even, reducing immediate selling pressure. The decrease in whale holdings has been gradual and may not significantly impact the price trend. The EMA lines are approaching a golden cross formation, a bullish signal that could drive SHIB to test key resistance levels. Overall, there is still room for SHIB's price to grow before selling pressure intensifies.
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