Shiba Inu (SHIB) is facing a serious decline in both price and trading activity. According to recent data, Shiba Inu trading activity has dropped by a staggering 40%. Additionally, it lost $6 million in trading volume.
The price of the asset also took a hit. According to the latest data, it is currently trading at around $0.00000727. A decline in trading activity indicates a lack of interest or confidence among traders and investors. This is a worrying sign for Shiba Inu.
This decline is not just momentary. It is part of a larger trend that has seen the Shiba Inu lose a critical support level near $0.00000733. Losing this support level opened the door to further downside, placing the asset in a dangerous position.
wider cryptocurrency While its market has shown some resilience, SHIB appears to be in a losing position. The asset not only lost its fundamental support. It also underperformed compared to other cryptocurrencies. This deviation from the market trend raises questions about the asset’s future prospects.
One possible explanation for the decline is that the market is meme coinLoss of interest in ‘s. In this context, it is possible that he basically focuses on stronger assets. Another factor could be bearish overall market sentiment, affecting even more solid assets.
However, the extent of SHIB’s decline suggests there may be more to the story. It is worth noting that a decrease in trading activity usually precedes a price decline, as it indicates a decrease in liquidity and interest in the asset. As SHIB has lost a significant portion of its trading volume, it may struggle to attract the necessary buying pressure to return to previous levels.