Analysis: SHIB fell after rising, and whales reduced their positions to put pressure on short-term market

PANews reported on May 21 that according to CoinDesk, the price of Shiba Inu (SHIB) rose 16% this month, but quickly fell back to $0.00001457 after hitting $0.00001492. Although the 24-hour destruction rate soared by 106,040%, on-chain data showed that the net outflow of whales dropped sharply by 311%, and active addresses fell by 68% since December last year. The current range of $0.000014-0.000015 has become a key support and resistance band, and the technical side is still in a downward channel. The short-term rebound may face a lot of unwinding selling pressure.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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