Shiba

Momentum

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-waning-momentum-sustains-altcoins-sideways-trend/" data-wpel-link="internal">Bitcoin’s Waning Momentum Sustains Altcoins’ Sideways Trend</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/bitcoin-yorumlari-btc-usd-teknik-analizi-14-04-2020" data-wpel-link="internal">Bitcoin</a> (<a href="https://en.coin-turk.com/spot-bitcoin-etf-approval-a-new-era-for-investors/" data-wpel-link="internal">BTC</a>)</strong> price’s decreasing upward momentum continues to support a sideways trend in <strong>altcoins</strong>, including <a href="https://en.coin-turk.com/shiba-coin-shib-burn-did-it-affect-the-price/" data-wpel-link="internal">Shiba</a> Inu (SHIB). The second-largest meme token has shown considerable volatility over the past two weeks, oscillating between horizontal levels of $0.00001 and $0.00000934.</p> 
<h2 id="shiba-inu-s-price-rebounds">Shiba Inu’s Price Rebounds</h2> 
<p style="text-align: justify">The rejection candles on both sides may highlight increasing uncertainty among market participants. Amid the crypto market’s renewed recovery efforts, <strong>Shiba Inu’s</strong> price bounced back from its local support of $0.00000934 on February 24. This positive turnaround has led to a 4% increase in SHIB’s price over the last three days, pushing it to the current trading range of $0.00000973. However, experts suggest that the meme token’s comeback is still supported by weak momentum and buyers may need a breakout above $0.00001 to escape the ongoing consolidation.</p> 
<p style="text-align: justify">Moreover, a breakout in the altcoin could only lead to a 5-7% price increase and might reach the long-standing resistance trend line. This dynamic resistance could be part of a falling wedge formation that carries the current downtrend in <strong>Shiba Inu</strong>. Therefore, the popular meme token may remain in a downtrend until this channel pattern is confirmed as robust. Additionally, as reported by SpotOnChain, a crypto whale identified as 0x30e distributed 421.6 billion <strong>SHIB</strong> tokens worth $3.98 million.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-319844 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/shib-4.png" alt="" width="1946" height="937"></p> 
<h2 id="massive-transfer-in-shib">Massive Transfer in SHIB</h2> 
<p style="text-align: justify">Among the transactions was the transfer of 311.6 billion SHIB to <a href="https://en.coin-turk.com/binance-announces-listing-of-six-new-crypto-currency-pairs-for-margin-trading/" data-wpel-link="internal">Binance</a> and the sale of 110 billion <strong>SHIB</strong> on a <a href="https://coin-turk.com/binance-kripto-para-borsasina-acilan-dava-sonrasi-bu-altcoin-yesillendi-herkes-bu-altcoine-kosuyor" data-wpel-link="internal">DEX</a> for 1.01 million <a href="https://coin-turk.com/usdt-transferleri-tum-zamanlarin-en-yuksek-seviyesinde" data-wpel-link="internal">USDT</a>. The mentioned sale resulted in a loss of $6.32 million or a 61.4% decrease after being held for 2.5 years. This move could support the SHIB price and potentially extend the current downtrend. Conversely, cryptocurrency investors hoping for a rise in this popular <strong>meme token</strong> may wait for a breakout above the general trend line for a better entry opportunity.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoins-waning-momentum-sustains-altcoins-sideways-trend/" data-wpel-link="internal">Bitcoin’s Waning Momentum Sustains Altcoins’ Sideways Trend</a></h5>

Bitcoin’s Waning Momentum Sustains Altcoins’ Sideways Trend

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