Recently watched#SHIB Many people may feel a little disappointed with the market situation as the price is still hovering near the bottom of the 4-month range.#突破交易策略
From the high point in December last year to March this year, the decline was as much as 67%, directly turning from high-energy expectations to "dog lying flat".
But don’t worry, there has been some activity in the SHIB community recently, it’s worth a look 👇#币安八周年
🔥The destruction rate suddenly exploded! The increase of 65,141% looks scary, but...
According to Shibburn data, the destruction rate of SHIB has soared 65,141% in the past 24 hours!
Sounds impressive, right? 1.007 billion SHIBs were destroyed, but the reality is: these tokens are only worth $11,583 in total, which has almost no impact on the project with a market value of $6.8 billion 🐌
However, this drastic change may still reflect some signs of ecological activity, such as:
Some holders actively destroyed
Shibarium activity heats up, leading to increased on-chain consumption
But from the price perspective, it is difficult to constitute a direct driving force in the short term.
📉On-chain data tells you: This wave is not a reversal signal
Looking at Santiment’s data can more intuitively judge market sentiment:
▪ Number of daily active addresses:
The overall trend has been downward since January, with occasional short-term peaks, but most of them are related to price drops - like holders looking for an opportunity to run away 💨
▪ Network growth:
The number of newly added addresses is not large, indicating that new players are less enthusiastic about entering the market. Currently, the activity is not high, speculation sentiment has not risen, and bullish momentum is missing.
🐋Big investor movements: Whales didn’t run away, but they didn’t increase their positions either
Looking at the supply distribution, the number of wallets holding more than 10 million SHIB decreased in the second half of June.
Although there has been a slight rebound in the past week, the key point is: the number of super whales holding more than 1 billion SHIB has not changed, indicating that large investors are in a wait-and-see mood.
If these people were really bullish, they would have gone all in and increased their positions long ago. The fact that they are not moving now is very clear - wait and see.
🔍Short-term opportunities? See what the liquidation heat map says
According to Coinglass’ 3-month liquidation heatmap, there are two key “magnetic zones”:
0.0000108 USD
0.0000121 USD
Among them, the liquidity near 0.0000121 is denser, indicating that this position may become a short-term target, especially under the premise that BTC does not make big moves.
However, if we want to break through the stronger resistance above 0.0000126, we must rely on Bitcoin to lead the pace + stronger community consensus.
✅To sum up:
SHIB is currently fluctuating at a low level, and there is a small rebound opportunity in the short term
Although there are many destructions, the impact on prices is limited and it is more of a sentiment indicator
On-chain data is weak, activity and network growth are insufficient
Whales did not leave nor increase their positions, and the wait-and-see sentiment was obvious
0.0000121 is the short-term target, and the upward breakthrough will show the trend of BTC
For those who want to enter the market, remember to control your positions and don’t be impulsive. For those who already have positions, you can also keep an eye on the key resistance levels and respond flexibly.
After all, this dog is sleeping now, but he is still alive😅
✍️DYOR, do a good job of risk control, and I hope everyone can set sail in the cryptocurrency circle! 🌊
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