Analysis: SHIB fell after rising, and whale reduced their positions to put pressure on short-term market

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PANews
05-21
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PANews reported on May 21 that according to CoinDesk, Shiba Inu (SHIB) price rose 16% this month but quickly fell back to $0.00001457 after reaching $0.00001492. Despite a 106,040% surge in 24-hour burn rate, on-chain data shows that whale net outflow dramatically decreased by 311%, and active addresses have dropped 68% since last December. The current $0.000014–0.000015 range has become a key support and resistance zone, with technical indicators still in a downward channel, and short-term rebounds may face significant selling pressure from investors breaking even.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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