The profitability rate for Shiba Inu (SHIB) is at an all-time low, with only 16.98% of addresses currently making money. The majority of SHIB holders, 76.56%, are losing money, indicating a prolonged downward trend. Concerns are growing about whether SHIB can recover or if further declines are ahead. The current price has seen a slight increase, but overall, the trend remains bearish. The selling pressure, as indicated by moving averages, suggests a lack of buying momentum. Without a significant surge in demand, SHIB's recovery is uncertain. The price needs to stay above $0.00001600 to avoid further decline, with $0.00001400 as the next crucial support level. The fluctuations of SHIB are influenced by large holders, and if whale transactions continue to decrease, weakness may persist. SHIB's recovery will be negatively impacted if the broader cryptocurrency market remains weak. Despite having a large community, SHIB's foundations are still lacking, and it is primarily a momentum-driven asset rather than one with proper fundamental growth.



Other News from Today