The probability of selling Shiba increased! what is the reason?
This indicates the oversupply of this token. This may indicate that many SHIB investors are looking for short-term gains rather than holding SHIB for the long term.Additionally, with the rece increase in SHIB price, the number of daily transactions on the SHIB network has decreased. This lack of activity on the network is a bearish indicator that demand for SHIB tokens may decrease in the near future.
Based on such data, SHIB is unlikely to break the $0.000008 resistance level. Also, the value of incoming and outgoing addresses (GIOM) shows that 430,400 addresses have purchased 299.6 trillion SHIB at a minimum price of $0.000008.
However, if buyers can coinue the bullish trend in the cryptocurrency market, the price of SHIB could approach $0.000010.On the other hand, if the price of SHIB falls below $0.00005, the bears can strengthen the bearish trend. However, 52,540 addresses had bought 19.3 trillion SHIB at a maximum price of $0.000007. SHIB’s price is likely to return to $0.00005 if they book early profits as predicted.
But if this support level holds, SHIB price could return to the $0.00007 range.
