Shiba Inu Coin Plummeting? Bears Break Through Defense, Is SHIB About to Collapse? 🔥💀

Shiba Inu Coin (SHIB) is now practically a 'hot potato', two months of sideways movement has been frustrating, and recently the price has been wildly fluctuating with immense bearish pressure, ready to push it down.

Key Data:

Whale Selling: Huge pressure, SHIB has broken the support level of $0.0000129, and the risk of falling to the bottom is rapidly increasing.

On-chain Data: Bulls are weak, whales continue to sell off, and the net position on exchanges remains negative, indicating that the selling has not stopped at all.

Cold Sentiment: Financing rates have fallen below zero, bearish sentiment is overflowing, and active addresses are quickly losing momentum.

Key Clues:

Coin Age Not Growing: Compared to the accumulation period of 1-3 months, the coin age of Shiba Inu Coin has not increased at all, circulation is sluggish, and selling pressure is nearing its peak.

MVRV Negative Value: Short-term selling is nearing its end, leaving some space for SHIB to consolidate and accumulate in the future.

Ending Quote:

Don't be fooled by the barking of the Shiba Inu; it may already be prepared to lie down. Investing is about seeing who can crush the 'bone' first.