Summary
TLDR: The Shiba Inu (SHIB) price has seen a sharp decline, with a 60% fall in average transaction size in four days, indicating fading investor interest and a potential change in market sentiment. The RSI suggests further price corrections, while the EMA lines hint at potential price stabilization. The SHIB price may consolidate in the $0.000023 to $0.000028 range, but could retest support at $0.000009 or test $0.000045 in a new bull run. This article is for informational purposes only and not financial advice.
Key Points
1. The Shiba Inu (SHIB) price has seen a sharp decline, highlighted by a 60% fall in average transaction size in just four days. This substantial decrease could indicate fading investor interest in Shiba Inu, possibly signaling a change in the previously bullish market sentiment.
2. The SHIB RSI remaining in the overbought zone suggests that further price corrections could be on the horizon. Additionally, the consolidation pattern formed by the EMA lines indicates that SHIB’s price may stabilize at current levels, hinting at a potentially difficult period ahead for maintaining its recent upward momentum.
3. Shiba Inu Transaction Average Size Is Still Declining Heavily: Reviewing the average transaction size of SHIB over the past month reveals a fascinating pattern. From February 21 to March 11, it surged from $10,139 to $49,816, marking a 391% increase in just about three weeks. During this timeframe, SHIB price also rose from $0.000009 to $0.000033, achieving a 266% growth. This recent bullish phase shows a clear correlation between these metrics.