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Shiba Inu (SHIB) on the Verge of a Bullish Comeback: Possible Scenarios
A popular indicator on financial markets suggests that the price of the Shiba Inu token may be about to make a significant turnaround. According to the data, the token’s current downward trend could potentially come to an end, paving the way for a bullish comeback.
In recent days, SHIB has been experiencing a rather tumultuous ride, with its value plummeting by nearly 20% in just a few hours. However, this downturn may be about to come to an end, as indicated by a well-known technical indicator that tracks market sentiment.
The Shiba Inu token’s current price action has led many investors and analysts alike to speculate about the potential for a rebound. As it stands now, there is no concrete evidence of a bearish reversal, but the data does suggest a possibility of a bullish scenario unfolding.
In recent times, SHIB whales have disappeared from the network, which could be an indication that they are holding onto their tokens, awaiting further price action to re-enter the market.
Source: u.today
