Shiba Inu (SHIB) ShibaInu (SHIB) price recorded daily
red
candlesticks, following broader market
hints
. The resulting decline led to significant losses for meme coin
investors who wanted to buy it back.ShibaInu Investors Suffer Huge LossesShibaInu price fell almost 40%, causing more losses than expected. One of the biggest blows was the billions of dollars of losses suffered by SHIB owners. According to the Global In/Out of Money (GIOM) indicator, approximately 424 trillion SHIBs, worth more than $7.3 billion, were in losses. This offering was sold between $0.00001700 and $0.00001900. While Memecoin fell last month, it caused losses by dragging this supply by another 190 trillion SHIB.
However, investors were not discouraged by these losses and aim to get their profits back. Proof of this can be found on MeanCoinAge (MCA). Average coin age measures the average age of all coins in the network and shows the time since their last movement. A higher average coin age generally indicates a holding trend, while a lower age indicates increased trading activity. Meme coin investors seem to be HODLing their holdings for now as SHIB continues its rise.
Read More: How to Buy ShibaInu (SHIB) and Everything You Need to Know
This is a good sign because Shiba Inu investors are highly faith-based and this will fuel the recovery.
SHIB Price Forecast: Consolidation Ahead
ShibaInu price will rise in the coming days, but this will be limited by the $0.00002093 resistance level. The altcoin has tested this level as a support base several times in the past, just above the important $0.00002000 price level. Hence, SHIB will continue to consolidate below this and will need strong bullish cues from the market to surpass it.
Read More: ShibaInu (SHIB) Price Prediction 2024/2025/2030
On the other hand, if the decline continues, meme coin 0.00001473 It can go down to $. This price point marks the critical support base for ShibaInu price. Its loss could completely invalidate the bullish-neutral thesis.
The above is the detailed content of SHIB Price Prediction: Shiba Inu (SHIB) Investors Lose Big But HODL Their Assets, Consolidation Ahead. For more information, please follow other related articles on the PHP Chinese website!
