Shiba Inu: what investors need to know

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The main Shiba Inu meme appears to have abandoned its domain to fate after initially overtaking Polygon [MATIC]excrement [TRX]previously SHIB overturned its decision and is now 15th by market cap, the SHIB price fell despite last week’s green.

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Shiba Inu is vulnerable to falling prices

The decline in the uptrend has intensified on the price charts lately and SHIB is starting to show negative signals related to price action.

Before the Moving average convergence divergence (MACD) about to execute a bearish crossover.Elusive at the time of writing, the green bars highlighted the growing downward trend. Should this bearish crossover materialize on the MACD, it would be the first time in two months that SHIB would see definitive bearish signals.

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Second, the altcoin failed to turn its critical short-term resistance level into support this week before plunging 9%. try the Fibonacci level of 23.6% as a resistance, the altcoin traded below the $ 0.00001300 level.

While it still held support from the 50-day SMA, it was not enough to counter the broader bearish signals.

According to TradingView results, the MACD has shown a neutral stance as buyers and sellers appear to be fighting for control. As of this writing, sellers still have some advantage over bullish believers.

One of the most noticeable changes in the SHIB ecosystem is its active withdrawals. According to Santiment data, SHIB’s active withdrawals had decreased significantly, as of July 21st it was still 788 as SHIB brought profits to traders. Since then, however, it has been on a downward trend.

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The volumes of Chain transactions They average $ 70 million, with peaks of $ 200-400 million.

Final comments

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