Tag: volume

Shiba Inu (SHIB) Volume Hits Near-Zero Levels: Next Step Is Worse

The post Shiba Inu (SHIB) Volume Hits Near-Zero Levels: Next Step Is Worse appeared com. Nothing left for SHIB Volume being lost Shiba Inu is about to enter one of the riskiest stages a cryptocurrency asset can go through: apathy rather than a crash. Although the price is not plummeting sharply, something much worse is going on below the surface: market participation is almost completely disappearing, volume is evaporating and liquidity is drying up. Nothing left for SHIB A meme asset ceases to exist when it is no longer moving. This is painfully obvious from the chart. All major moving averages, including the 50-day, 100-day and particularly the 200-day MA, are acting as layered resistance, and SHIB is trapped below them. SHIB/USDT Chart by TradingView The price action shows an attempt at a bounce that was unsuccessful in breaking the structure, followed by a gradual decline that is currently centered on $0. 0000090-$0. 0000093. The RSI is in the 39-41 range. It is not strong enough to indicate a buildup, nor is it oversold enough for a reversal. To put it another way, there are no catalysts, no momentum and no volatility. Volume being lost The more significant issue is that the volume is continuously dropping. Recent candles are getting smaller and fading toward historical lows. Every SHIB investor should be much more concerned about that than about a day with a red price. Low volume indicates fewer purchasers, less vendors, no strain on liquidity, absence of speculative interest and a lack of volatility to spur growth. You Might Also Like This is how markets pass away quietly rather than violently. Statistically speaking, the next step is worse: an acceleration of the downtrend, not due to selling pressure but rather because no one is interested in purchasing dips anymore. Even tiny sell orders can cause the price to drop during this phase. Two things would bring SHIB.