news 
Title: Shiba Inu (SHIB) 26% Plunge in 10 Days: What’s Happening?
As the cryptocurrency market continues to experience a downturn, Shiba Inu (SHIB) has also been affected. Within just ten days, SHIB has plummeted by an astonishing 26%. In this article, we’ll delve into what could be causing such a drastic drop and explore potential scenarios that might determine the future direction of the cryptocurrency.
The market sentiment has turned bearish in recent times, with most cryptocurrencies experiencing significant losses. However, Shiba Inu’s 23% decline within an extremely short period is particularly concerning for investors. It is essential to analyze the current situation objectively and identify any potential trends or events that could be influencing SHIB’s price.
In a technical analysis perspective, it seems like Shiba Inu has dropped below the long-term moving average of 50 EMA, which was previously seen as strong support. Additionally, we can notice a rejection at the 26 EMA level, indicating a loss of momentum and significant selling pressure.
At this stage, any recovery should be accompanied by an uptrend retest of these levels. Until that happens, Shiba Inu is unlikely to see any substantial gains without additional fundamental factors driving it.
Source: u.today
