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Shiba Inu (SHIB) Price Hits Pre-Pump Levels: What’s Happening?
The recent performance of Shiba Inu (SHIB) has been quite underwhelming, with the asset’s retracement to pre-pump levels indicating a lack of sustained interest from long-term investors. This sell-off also implies that SHIB has not yet gained a strong following among its current members and potential newcomers.
From a technical perspective, SHIB has dropped below both the 50 and 100 EMAs, which are critical markers for possible trend reversals. The asset’s price is currently hovering around $0.0002047, which is close to the 200 EMA. If it fails to maintain this level, it may experience further drops in value.
The future of SHIB remains uncertain, and maintaining a positive price growth will be crucial for its success. As highlighted by recent events, strong demand is necessary to support prices and prevent excessive dependence on speculative rallies. The absence of new stimuli or renewed investor interest could lead to continued difficulties for the asset.
As it stands, the SHIB community remains anxious for any signs of improvement. However, without a fundamental shift in sentiment or market conditions, it’s difficult to predict when this change might occur.
This article was written by Arman Shirinyan
Source: u.today
