As the market continues to be dominated by fear, many investors are looking to the biggest cryptocurrencies (Bitcoin) rather than newer and more volatile altcoins. [BTC] and Ethereum [ETH]) headed. Still, meme tokens and tokens are seeing their own stories unfold. Especially Shiba Inu [SHIB] We need to talk about.
Shiba Inu Set to Sea
At press time, the Shiba Inu was trading at $0.00002149 after rising 3.55% the other day and falling 7.30% last week. The fifteenth largest crypto by market cap has seen a drastic change when it comes to its supply sitting on exchanges.
From mid-March to the beginning of April, trillions of SHIBs returned to the exchanges, while the following period saw a sharp decline in SHIB volume on exchanges. However, since mid-April, the supply of SHIB on exchanges has been largely sideways. This marks a decline in buying and selling activity driven by hype.
Could this help stabilize SHIB’s prices? It’s a difficult question to address, but one clue lies in whale activity. Santiment data showed that SHIB whale transactions were down. It is also possible that this is behind SHIB’s relatively more stable prices in recent days.
However, the wealth’s social dominance metric rose slightly at press time. Its, We’ll see if SHIB triggers the hype needed for buys or sells that will increase its volatility once again.
So how far can the price of the SHIB go? TradingView’s Awesome Oscillator [AO] indicator, although a red candle was formed, a green bar was flashing below the zero line during printing. No doubt a confusing signal.
Would you like to receive all the developments instantly? >>> Immediately telegram, Instagram, Twitter.com/Kripteuofficial” target=”_blank” rel=”noreferrer noopener”>Twitter Open notifications by following our accounts, be the first to know about the developments!
Note: The contents of the articles written on this site are completely based on comments and analysis. It is not investment advice in any way.