The cryptocurrency market is experiencing a significant decline, with $349.34 million being liquidated in 24 hours. This includes $293.79 million in long positions. Shiba Inu (SHIB), a popular meme-inspired cryptocurrency, has encountered resistance at its 23-day moving average and has lost 5.83% of its value in the last 16 hours. It is anticipated that SHIB may test buyers' appetites at a lower support level, potentially 23% below the current price. The current state of the crypto market is uncertain, with speculation on whether this is the beginning of the end or if the end has already occurred. The volatility of the crypto market makes it difficult to predict, so it is recommended to react rather than predict. Despite the current downward trend, the situation may change with the next one-hour candle.



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