Shiba Inu (SHIB) prices appear to be facing peak bearish momentum as investors gear up to sell their tokens due to profit taking. The MVRV ratio, which evaluates the short-term profits of a holder, is nearing the 7% zone, after which an impending selloff is anticipated. Additionally, the slowing new user acquisition rate suggests that Shiba Inu is losing its competitive edge to other meme coins. Despite this, SHIB could continue the rally and reach a new high of $0.000017 if it successfully breaks the $0.000012 resistance zone. For now, investors are advised to stay alert as the bearish momentum could increase in the coming days.
Scarlett Wilson
- 2023-04-19
How Shiba Inu (SHIB) Price Performance is Impacted by Profit Taking
Shiba Inu (SHIB) prices seem to be facing peak bearish momentum as investors prepare to sell their tokens due to profit taking. Learn what this could mean for the meme coin's price performance.
![CandleFocus ShibaInu-SHIB-MemeCoin-Crypto-PricePerformance](https://images.candlefocus.com/How-Shiba-Inu-(SHIB)-Price-Performance-is-Impacted-by-Profit-Taking.jpg)