Shiba Inu's recent trend is looking weak, with short-term core pressure coming from on-chain selling: over 64 billion tokens have flowed into exchanges in the past 24 hours, which usually signals a potential increase in sell orders.
Currently, the quote at $SHIB is around $0.0000047, with a 24-hour trading volume of about $38.37 million and a market cap of approximately $2.77 billion. Although institutional products bring some narrative support, the more critical factor in the short term is the early whales continuing to cash out, alongside insufficient confidence after the technical breach of key support.
My take: It's not wise to only focus on "ETF benefits"; we also need to monitor whether net inflows to exchanges are slowing down and if support levels can reclaim their positions. If selling pressure continues to accumulate, the price may still experience a downward oscillation.
#SHIB #ShibaInu #CryptoMarket
Currently, the quote at $SHIB is around $0.0000047, with a 24-hour trading volume of about $38.37 million and a market cap of approximately $2.77 billion. Although institutional products bring some narrative support, the more critical factor in the short term is the early whales continuing to cash out, alongside insufficient confidence after the technical breach of key support.
My take: It's not wise to only focus on "ETF benefits"; we also need to monitor whether net inflows to exchanges are slowing down and if support levels can reclaim their positions. If selling pressure continues to accumulate, the price may still experience a downward oscillation.
#SHIB #ShibaInu #CryptoMarket