🐶【SHIB Plummets 6%! Full Analysis of the Reasons Behind and Future Market Highlights】
From the afternoon of July 31 to noon on August 1, Shiba Inu Coin (SHIB) suddenly dropped by 6%, with the price falling from $0.000013 to $0.000012, marking a new low since July 9📉. This wave of decline is related to the new tariffs announced by Trump, which has put pressure on the entire cryptocurrency market, especially affecting Bitcoin💥.
Interestingly, since July 28, the amount of SHIB on centralized exchanges has surged to 84.9 trillion units, indicating that large holders may be quietly selling their chips🧐. However, at the same time, the total amount of SHIB held has also increased to 4.66 trillion units, valued at approximately $63.7 million, indicating considerable activity in the market.
There are also highlights in the burning aspect, as recently 602 million SHIB have been burned, with the burn rate skyrocketing by 16,700%, which may be a positive signal for the price🔥. However, the technical aspect reminds everyone that if the price falls below July’s low of $0.00001108, the bullish trend may be discounted, and investors should pay attention to indicator changes⚠️.
From a technical chart perspective, the breakout at $0.000013 resistance triggered a massive sell-off, but there is a buy order of 1.19 trillion SHIB around $0.000012, providing relatively strong support💪. An increase in trading volume suggests there may be a rebound opportunity in the short term.
Analysts also pointed out that July formed an “inverted bullish candlestick” pattern, which signals that bulls intend to make a comeback, bringing a glimmer of hope to the market✨. #Cryptocurrency
Overall, the future trend of SHIB is still closely related to global economic dynamics and the actions of major funds. In the future, whether it rises or falls, everyone should pay more attention to technical indicators and market sentiment, as the actions of the major players often determine the direction👀.#SHIB
