Shiba Inu (SHIB) price is trading with a bullish bias after a steep 10% fall beginning in late August. After finding support, the meme coin is brewing
to confront the first hurdle at $0.00000828, presented by the 50-day Exponential Moving Average .
Santiment data’s active deposit and exchange inflow metrics have recorded significant increases, with the trajectory often pointing to the intention to sell. When holders move their assets to exchanges, it is often because they plan to liquidate them for cash or trade them for better prospects. The ensuing selling pressure from the 920.02 trillion addresses looking to escape further losses, could see Shiba Inu price decline, possibly retracing to the $0.00000718 support level.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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