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Just 1.9 Trillion SHIB in 24 Hours: What’s Really Happening?
In the past 24 hours, Shiba Inu (SHIB) has witnessed a staggering 1.9 trillion transactions. This remarkable surge in activity raises many questions about what’s driving this sudden interest and potential implications for the market.
The recent RSI indicators have returned to the midway point, indicating a balance of supply and demand forces at play. As such, it is possible that SHIB will continue to fluctuate within a range between $0.0000244 (50-day SMA) and $0.00003344, its current resistance level.
While this may seem like an ominous sign for traders, the possibility remains that Shiba Inu could still gain momentum if buyers push the price above $0.00003344. This would allow the asset to potentially rise as high as $0.000039 and eventually reach $0.000046.
However, should SHIB prices fall below the 50-day SMA at $0.0000244, the advantage will shift in favor of bears.
Source: u.today
