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The Range Remains Significant for Shiba Inu
SHIB holders are holding on to their tokens at a substantial amount of $2.75 trillion in hours, indicating that the market is still showing resilience despite recent drops. This significant range remains intact, and any further sell-offs could potentially be absorbed by these concentrated levels.
In technical analysis, this level is crucial as it marks the daily moving averages (DMAs) for both the 200-MA and 50-MA at $0.0000187 and $0.0000254 respectively, implying a potential range trading scenario unless there’s a break in either direction.
It appears that whales may be waiting on the sidelines for market clarity before making significant moves, as transaction volumes have decreased by a staggering 81% over the past day.
Source: u.today
