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Title: Shiba Inu (SHIB) 23% Plunge in 10 Days: What’s Happening?
Shiba Inu (SHIB) has recently experienced a significant decline of approximately 23% over the past ten days, leaving investors and traders wondering what is causing this downward momentum. According to recent data from Arman Shirinyan, a trader with over four years of experience in the crypto market, SHIB’s price is currently struggling at around $0.00002110.
The bearish movement has been fueled by a combination of factors, including the lack of significant support at the 26 EMA level and the failure to reclaim it. The 26 EMA serves as an important indicator of momentum shift, and its failure to be reclaimed could signal further declines ahead.
However, investors should keep in mind that any potential recovery is possible if buyers intervene and protect the 50 EMA level. This would indicate a significant shift in market sentiment, potentially leading SHIB’s price to retest higher resistance levels.
Investors are advised to closely monitor this crucial level as it may serve as an important indicator of the asset’s overall direction in the near future.
Source: u.today
