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Shiba Inu: Correcting or Consolidating, Whales Signal Bullish Momentum

Shiba Inu: Correcting or Consolidating, Whales Signal Bullish Momentum
Shiba Inu: Correcting or Consolidating, Whales Signal Bullish Momentum

Shiba Inu Price Analysis

Shiba Inu (SHIB) has been correcting since early March, closing the month below expectations. This could indicate either a simple downfall or a correction.

Recent Downturn and Technical Analysis

A pennant pattern formation on the chart suggests that SHIB may experience an uptick. However, EMA and ASI indicate a bearish environment in the near term.

Whale Activity and Market Dynamics

Heavy selling by whales has contributed to the recent downturn. Unknown wallets have sold over $5 million worth of SHIB, allowing others to acquire the token. Analysts view this as a bullish sign, as selling typically follows purchasing activity.

Looking Ahead

Whales and market sentiment will continue to influence SHIB's price. It is crucial for SHIB to remain above the support level of $0.00002. If it falls below this level, a further decline of 14% is possible.

SHIB is expected to test previous highs and regain its upward trajectory. Shiba Inu coin price p

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