The post Shiba Inu (SHIB) Trading Hits Crisis Point, Solana (SOL) in Fragile Position, Dogecoin (DOGE) Fights Back appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. As Shiba Inu’s trading volume falls to alarming levels, the company finds itself at a turning point. A declining volume may halt any upward momentum for the token by indicating a lack of confidence among traders in addition to posing liquidity issues. Currently trading close to $0.00002530, SHIB has developed a bearish pattern, with the market clearly not following through. The price is still above important moving averages such as the 50 and 200 EMAs, but the volume indicators indicate a concerning trend as they show a steady decline. This drop in volume indicates traders pulling back, making SHIB more susceptible to abrupt price changes as a result of reduced liquidity.  SHIB/USDT Chart by TradingView The absence of traders’ active participation highlights the waning enthusiasm. Although SHIB had a strong run at the beginning of the year, it appears that many traders have since given up on the token in favor of assets with greater room for growth. Without significant volume to support price changes, SHIB could go into a protracted period of consolidation or possibly a downward trend. On the technical side, $0.00002100 and $0.00002350 are important support levels to keep an eye on. SHIB may decline further if there is a breach below these levels, which would increase selling pressure. However, SHIB would need to…

---

Filed under: News - @ November 29, 2024 2:20 am