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Shiba Inu, which is no longer among the top 15 cryptocurrencies by market capitalization, is continuing its path to lower lows. With poor price performance and declining market activity, the asset is very far from its grace. The very thing holding back SHIB's growth is the lack of volatility, which was once a defining characteristic of its explosive moves.
SHIB is trading below important resistance levels on the daily chart such as the 50 and 100 EMAs, with the 200 EMA serving as the last line of defense. With the price currently hovering around $0.00014, it is unable to make any significant progress. The lack of momentum is further demonstrated by the RSI, which is slightly below 45 and shows a neutral-to-bearish sentiment. Due to this stagnation, investor interest has diminished as evidenced by SHIB's daily trading volume falling precipitously from its peak levels.
The absence of volatility leads to a vicious cycle of declining returns for the asset by discouraging new inflows and suppressing speculative interest. The market's unwillingness to support a recovery is highlighted by the failure of even attempts to break above $0.000022. With its heavy reliance on hype and speculative trading, Shiba Inu's ecosystem is currently struggling to remain relevant in a competitive market.
Alex DovbnyaAs other assets make notable advancements in innovation and adoption, SHIB seems to be losing its allure. A recovery in the near future is extremely unlikely unless a significant catalyst appears, as the absence of updates or significant developments exacerbates its problems. If SHIB wants to turn around its current course, it will need to regain the $0.00002 level in the future. However, the asset runs the risk of continuing to perform poorly unless trading activity and investor confidence pick up.
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.
Alex Dovbnya
Dan Burgin
Vladislav Sopov