The Truth Behind the 20% Plunge of $SHIB : The 50-day Moving Average Becomes a Death Line as Retail Investors Struggle to Catch Up
Recently, the trend of SHIB has left me a bit puzzled. Let's start with some big news—large investors suddenly went on a buying spree, with whale holdings skyrocketing tenfold within a week, directly hitting a six-month high!
Don't get too excited just yet; these big players actually secretly dumped 20 trillion SHIB in the first half of the year. This recent move seems more like bottom-fishing in the hopes of a rebound, so retail investors should stay cautious.
The technical team has been busy, too; the Shibarium Layer 2 network just updated its version, claiming to solve congestion issues and optimize node distribution. However, to be honest, the current on-chain TVL data is still not impressive; compared to other public chains, it feels like a small pond versus the ocean. However, the fact that community wallet addresses have surpassed 1.51 million is quite encouraging, indicating that die-hard fans are still entering the market.
The price situation is a bit heartbreaking, having dropped 20% in the past month, and now we can't even touch the 50-day moving average.
Analysts have given an absurdly wide annual forecast range, with a low of $0.0000137 and a high of $0.0000721, a gap wider than the distance from my home to the moon. However, if the overall market warms up and coincides with the positive news of their metaverse project Alpha testing, it might just lead to a significant surge.
SHIB really takes the magic of the crypto space to the extreme—big holders run away while retail investors catch the falling knife, with tech upgrades and concept hype interspersed. As an observer, I advise everyone not to be swayed by short-term fluctuations. If you really want to play the long game, it might be better to keep an eye on their metaverse and gaming developments, which are much more tangible than candlestick charts.
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