Shiba Inu (SHIB) has caught the attention of its largest holders, with a surge in whale activity indicating a potential buying opportunity. The volume of large transactions involving SHIB has more than doubled in the past three days, highlighting increased market activity. Despite this, the market sentiment remains bearish, suggesting the coin may face further declines. The recent price drop has led to a negative market value to realized value (MVRV) ratio, indicating that SHIB may be undervalued and presenting a buying opportunity for investors. However, anticipated gains may face delays as bearish sentiment persists, with indicators such as the Elder-Ray Index and Directional Movement Indicator reflecting a bearish trend. If buying pressure weakens further, SHIB's value could extend its decline, potentially reaching its August 5 low. To rally, demand needs to pick up and the coin's price needs to move toward the resistance level.
- Content Editor ( beincrypto.com )
- 2024-09-18
Shiba Inu (SHIB) Whales’ Attempt to Boost Coin by 36% May Fail