{"id":606523,"date":"2024-05-04T09:00:02","date_gmt":"2024-05-04T09:00:02","guid":{"rendered":"https:\/\/ktsl888.com\/?p=606523"},"modified":"2024-07-12T05:03:49","modified_gmt":"2024-07-12T05:03:49","slug":"shiba-inu-in-danger-zone-18-price-crash-incoming","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/shiba-inu-coin\/shiba-inu-in-danger-zone-18-price-crash-incoming\/","title":{"rendered":"Shiba Inu In Danger Zone: 15% Price Crash Incoming?"},"content":{"rendered":"
The self-described “Dogecoin killer,” Shiba Inu (SHIB), has been trapped in a technical tug-of-war as bears try to drive it down and bulls hang on hints of hope. Examining the memecoin’s chart pattern and on-chain data, analysts are trying to figure out its next action.<\/span> SHIB’s 3-day chart shows a falling triangle development. Usually indicating a possible price drop, this trend sees the price of the asset<\/a> pinched between lines of convergence of support and resistance.<\/span> The main concern for SHIB holders is whether the price will defy gravity and break out from the triangle, therefore generating an uptrend, or if it will break below support and keep its decline. Fueling the negative fire, SHIB has seen demand fall noticeably.<\/span> According to data from Santiment, during the past month the daily active addresses<\/a> for SHIB have dropped by more than half. This points to a declining user base and maybe less trading volume, thereby exerting downward pressure on the price.<\/span> The sudden drop in new addresses joining the SHIB party further lowers mood. On-chain statistics show that daily new address creation for trading SHIB has dropped 51% in the same period.<\/span> This dearth of new blood joining the market can aggravate the selling pressure. <\/p>\n The Market Value to Realized Value (MVRV)<\/a> ratio of SHIB adds more reason for worry.<\/span> The average acquisition price of all SHIB tokens is compared with the present market price in this indicator At right now, SHIB’s MVRV ratio is a high 38%. A high ratio indicates that the asset may be overpriced, hence existing owners should cash in on their gains and help to cause a sell-off.<\/span>
\n<\/span><\/p>\nDescending Triangle Looms: Will SHIB Fall Or Fly?<\/strong><\/h2>\n
\n<\/span><\/p>\nFalling Demand Raises Concerns For Shiba Inu<\/strong><\/h2>\n
\n<\/span><\/p>\nSource: Santiment<\/pre>\n
New Investors Give SHIB The Cold Shoulder<\/strong><\/h3>\n
\n<\/span><\/p>\nShiba Inu is currently trading at $0.000024. Chart: TradingView<\/a><\/pre>\n
SHIB’s High Valuation: A Recipe For Sell-Off?<\/strong><\/h3>\n
\n<\/span><\/p>\nSHIB monthly price action. Source: CoinMarketCap<\/a><\/pre>\n
A Silver Lining?<\/strong><\/h3>\n