Shiba Inu It has once again entered a correction phase, falling below the 26-day EMA and moving towards the next major support level. This bearish signal pushed SHIB towards the next support level around $0.00002. The asset’s recent movements can be significantly attributed to its almost non-existent trading volume, which explains the current stagnation in its market value.
The subdued activity surrounding the Meme coin reflects that the token is not currently in high demand. This lack of interest is a continuation of the recent downward trend in the market and declining demand for risk.
The cryptocurrency market is still experiencing the effects of unmet expectations following Bitcoin’s halving, a period that should have triggered an upward trend. However, the expected rally did not materialize, leading to a risk-off approach among investors. As cryptocurrencies like Bitcoin struggle to regain their highs, meme coins like Shiba Inu are also feeling the pressure.
The recent price correction in the Shiba Inu may be more than an unexpected development and may be part of a broader trend in which risk appetite is low. The muted reaction from buyers post-halving suggests that confidence in the market is not as strong as expected, causing many to stay away from more speculative assets such as Shiba Inu.
Looking ahead, the key for SHIB will be whether it can maintain psychological and technical support around $0.00002. If it falls below this level, it may seek new support, leading to further decline. If SHIB manages to stabilize or even rise from this point, it could renew interest among traders seeking additional risk. Shareholders need to be prepared for further volatility in SHIB and the market in general.
