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Title: 20 Trillion SHIB Next as Shiba Inu Price Drops 6%
U.Today reports that the price of Shiba Inu (SHIB) has taken a significant drop, losing approximately 6% in recent hours. This development comes as a massive 20 trillion SHIB sits at these price points, waiting for any sign of improvement in the broader market.
As prices fall, many investors are holding their breaths in anticipation of potential recoveries. It is essential to note that this support level has been crucial over time, serving as a floor or a buying opportunity. In other words, if this level holds, it could mean a strong chance for prices to rebound.
Notably, Shiba Inu’s daily moving averages are closely tied to these levels at $0.0000187 and $0.0000254, which further supports the notion of range trading, unless there is a break in either direction.
Furthermore, transaction volume has taken a significant hit, with an 81% drop in large transactions over the past day. This drastic change may indicate that whales are holding back on their actions until more clarity emerges in the market before making any major moves.
In this scenario, if support holds at these levels, it could lead to some stability and potentially even a rebound in prices.
Source: u.today
