The cryptocurrency token Shiba Inu (SHIB) is currently experiencing a difficult time due to low trading volume and on-chain activity. While the price of SHIB has been performing well recently, there is less market interest, resulting in a decline in large transactions. This could lead to a deterioration in liquidity and prolonged rangebound trading. SHIB's volume of large transactions has significantly decreased compared to previous active trading periods. The token's price is currently stable but could face resistance at its important moving average. The low volume and liquidity, along with an slightly oversold Relative Strength Index, pose a threat to SHIB's momentum. Without new buying interest, SHIB may remain trapped in a narrow trading range and struggle to gain momentum. The lack of whale activity suggests institutional or large-scale investors are withdrawing their capital, exacerbating SHIB's liquidity issue.
- Content Editor ( u.today )
- 2024-09-09
Shiba Inu (SHIB) Hits Extreme Levels: What's Happening?