Shiba Inu Faces Key Support Test Near $0.000012 Amid Market Uncertainty and Fed Decision
Main Idea
Shiba Inu (SHIB) is testing a critical support range between $0.000008 and $0.000013, with significant token concentration and holder activity, while the 50-day SMA serves as a key technical indicator for its short-term price momentum.
Key Points
1. Shiba Inu's support range of $0.000008-$0.000013 holds 91.61 trillion tokens across 302,740 addresses, indicating strong holder defense.
2. The 50-day Simple Moving Average (SMA) at $0.00001265 is a pivotal level for SHIB's short-term momentum; holding above it may signal bullish trends.
3. Recent market volatility has led to a 5.28% drop in SHIB's price, testing both the support range and the 50-day SMA.
4. A break below the 50-day SMA could lead to further declines toward $0.00001, highlighting the importance of this technical level.
5. The support zone represents a major accumulation area, making it a decisive factor for SHIB's future price movements.
Description
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