Meme coins The general weakness of investor appetite amidst the increasing competition for has created a new environment. After this year’s peak, BTC has not been able to gather the desired level of demand above $ 70,000, while the fluctuation in the ETF channel is also making general market conditions difficult. So what is the latest situation specifically for Shiba Coin? What awaits investors?
Shiba Inu (SHIB)
PCE data Although it came below expectations and the first meeting was held 19 days later Fed Despite the interest rate cut, the lack of interest in altcoins continues. BTC has fallen below $ 58,000 again and Shiba Coin investors continue to sell. The Realized Loss indicator of investors is climbing. The indicator, which reached its peak for August, last saw these points in the July drop. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
The significant losses that have occurred are a situation that has increased the selling appetite among investors. The strengthening downtrend in the case of Shiba Coin can be easily confirmed by the RSI. SHIB, which has remained below the neutral zone for a long time, shows that the appetite among investors has been supporting the decline for quite some time.
PEPE CoinShiba Coin’s current status is not surprising as weakness is strengthening even in newer, popular meme coins like FLOKI. This means that even as BTC makes upward attempts, every upward attempt is seen as a selling opportunity in assets like Shiba Coin.
At the time of writing, BTC was at $58,080 and reached its daily low at $57,946. Moreover, while weekends are notorious for their lack of volume, BTC is starting the weekend in bad shape.
Shiba Coin Price Prediction
Analysts are also generally not hopeful for Shiba Coin’s performance. The altcoin, which has managed to break the $0.00001462 resistance only once in the last 4 weeks, may continue to weaken below the key area. Consolidation in the resistance area with the $0.0000128 support may pave the way for greater losses if sales accelerate in the coming days.
What if September starts better than feared and we see a general recovery in the appetite for altcoins? Shiba Coin What levels will await investors? In the optimistic scenario, we can see $0.0000169 being tested with closes above the resistance. Strong closes above this level may signal the end of the downtrend in the short term.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
