Shiba Inu [SHIB] Investors should consider these levels before making a strong call
pioneer meme coin Shiba Inu [SHIB] It seems that he has left his dominion to fate. initially after crossing polygon [MATIC] And tron [TRX] Earlier, SHIB has reversed its offer. Now ranked 15th in terms of market capitalization, the SHIB has come down in price despite the last green week.
At the time of writing, SHIB is down by 4.25% in the last 24 hours. It was also priced at $0.000011 with a low 24-hour volume. However, investors can consider viewing these levels as a downside. Before making a decision, it can be important to look at a few metrics.
But what exactly?
One of the most notable changes to the SHIB ecosystem is its proactive withdrawals. According to data from Sentiment, active clearance of SHIB has decreased significantly. On July 21, active withdrawals were still as high as 788, given that SHIB had made some profit for traders. However, it has gone on a below The trend has been since then. At press time, it was only 172.
Similarly, the one-day (1d) circulation within the Shiba Inu ecosystem had also fallen. As of July 21, it was 1.56 trillion. As of July 23, it was 496.46 billion. Despite massive whale action a few weeks ago Chief For a short bullish run, the effect seems to have stopped.
Reports have shown that whale activity has remained stable since last week. Supply held steady at 62 at the top address. Therefore, it may seem that following a bearish or bullish target should not be the most important concern for investors. Nevertheless, it is still necessary to review its possible price movement.
Moving Average Convergence Divergence (MACD) looks undecided with the next SHIB momentum. According to trading view As a result, the MACD indicated some form of neutral stance as buyers and sellers appear to be in a spring struggle for control. At press time, sellers still had some edge over the enthusiastic loyalist.
However, the Exponential Moving Average (EMA) slightly disagrees with the MACD results. The 20-period EMA (blue) was above the 50 EMA (orange), indicating that buyers were experiencing more stability than sellers.