Shiba Inu (SHIB) Shows Strong Reactions to Support and Resistance Levels - Latest cryptocurrency news

Shiba Inu (SHIB) Shows Strong Reactions to Support and Resistance Levels

Shiba Inu (SHIB) has been exhibiting strong reactions to support and resistance levels for some time now. Experts predict that the memecoin is experiencing a significant rise with the support of Coinmerge’s Shibarium and that there may be price changes in December. While evaluating that SHIB will show high volatility on the first day of the new month, machine predictions suggest otherwise.

Shiba Inu’s performance remained weak in the last quarter of the year, keeping the price almost unchanged and disappointing investors. The eagerly awaited $0.01 level did not bring about a significant change in price movement, testing the patience of the Shiba Inu community.

Technology & Populer Science News: Newslinker.co

Artificial intelligence predictions indicate a limited change in SHIB price on December 1, 2023, with a price of $0.000008446. Additionally, as AI predictions only showed a 1.5% increase in the next three days, SHIB price expectations were once again lowered. The algorithm reduces hopes for the removal of zeros by predicting that SHIB price will continue with several more zeros.

The Shiba Inu market currently exhibits neutral sensitivity due to the contraction of price within a consolidation range. However, the daily trading volume increased by 118% to $294 million, which is a positive indicator.

In the current SHIB market, 19% of investors are in profit, 74% are in loss, and 7% are at break-even. The control of 78% of the circulating supply by large investors continues to affect market sensitivity. Additionally, SHIB having a correlation of 0.36 with Bitcoin (BTC) indicates that the memecoin exhibits almost the same movement as the largest cryptocurrency.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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