We all had hopes for Shiba Inu, however, the asset failed to return above the 200 EMA threshold and is currently showing a downward trend, with the price most likely falling towards the $0.00001 level. However, it is not a cause for panic.
We all had hopes for Shiba Inu, however, the asset failed to break through the 200 EMA threshold and is currently showing a downward trend, with the price likely falling towards the $0.00001 level. However, it is no reason to panic.
Shiba Inu has not been performing well lately, with unfavorable price action and the market unable to sustain large gains. Technical indicators have provided an effective resistance level, especially the 200 EMA, which acted as support in the past.
The path of least resistance points downwards, which puts SHIB in a risky situation due to its inability to break through this threshold. On the other hand, rather than posing a crisis, this downward trajectory could offer an opportunity. Historically, accumulation periods have frequently followed such steep declines, during which investors have built up their positions by taking advantage of lower prices.
Larger investors, or whales, who recognize the possibility of future gains and are less alarmed by transient volatility are prone to this pattern. We should expect to see a considerable amount of accumulation from these larger investors as SHIB approaches the $0.00001 level.
Alex DovbnyaFurthermore, the market mood at the moment means that smaller investors (who are sometimes said to have shaky hands) may be liquidating their holdings for fear of further losses. Although there may be a brief drop in price as a result of this selling pressure, long-term investors may find themselves with a fantastic buying opportunity.
As these less experienced players leave, more experienced whales enter the market, consuming supply and potentially restoring prices. It is critical to remember that despite the seemingly dire short-term outlook for SHIB, the underlying fundamentals and overall state of the market remain very important.
