Is Shiba Inu (SHIB) Bullish Run Risking a Fading Trend?
Monday, 20 May 2024, 15:00
Shiba Inu Investors Remain Skeptical
The investors' lack of support is a concern, and it could lead to the meme coin losing the rally.
- The average daily transaction volume has fallen from $169 million in April to $38 million in May, a 77% decline.
- The adoption rate is at an eight-month low, with only 29% of all active addresses representing new investors.
SHIB Price Prediction: Possible Decline Awaits
Shiba Inu's price is consolidating within a narrow range but faces the risk of slipping below key support levels, potentially erasing recent gains.
- The Ichimoku Cloud indicator suggests a bearish outlook, signaling the possibility of a price decline in the near term.
- A sustained breakout above key resistance levels could invalidate the bearish thesis and propel SHIB toward higher levels.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.