20 hours ago
Shiba inu (SHIB), the world's second-largest memecoin, has had a unsmooth week. Still, the cryptocurrency appears connected way to registry a double-digit monthly gain.
SHIB fell to $0.00001263 aboriginal today, the lowest since July 10. Prices are down astir 9% for the week, with a nonaccomplishment of implicit 2% successful the past 24 hours. The weakness is accordant with the temper seen successful the memecoin sector. The CoinDesk Memecoin Index (CDMEME) has declined by 10% successful 7 days.
Price volatility successful SHIB aligns with broader shifts successful the crypto market, arsenic argumentation uncertainty reshapes integer plus allocation. The token's nonaccomplishment to rally contempt assertive pain programs underscores capitalist penchant for utility-driven projects implicit axenic speculation plays.
Key AI insights
- SHIB plunges 2.28% from $0.000013107 to $0.000012809 during a 24-hour model ending July 30, 14:00
- The pain mechanics destroyed 600 cardinal tokens successful a azygous session, marking a 16,710% surge successful demolition rate
- Competitors BONK, PENGU, and utility-driven Remittix seizure trader flows arsenic SHIB loses meme coin leadership.
Technical Levels
- Price dropped 2.28% from $0.000013107 to $0.000012809 crossed the 24-hour period.
- Trading bandwidth spans $0.0000005215, equivalent to 4.12% of the full range.
- Resistance capped advances astatine $0.000013184 with rejection during the 17:00 session.
- Support emerged astatine $0.000012663, backed by 1.25 trillion token volume.
- The downtrend intensified aft 10:00 connected July 30, with consecutive little peaks.
- Late-session bounce delivered a 0.25% summation successful the last trading hour.
- The measurement detonation reached 43.5 cardinal tokens during the 13:57-13:59 rally phase.
- The three-wave signifier emerged: consolidation, distribution, past short-covering.
Bullish hints
SHIB's monthly terms illustration shows the token is apt to extremity July with an inverted hammer candle arsenic it looks to bounce from year-to-date lows.
An inverted hammering appearing aft downtrend oregon astatine marketplace lows indicates that buyers attempted to propulsion the terms importantly higher during the period, but sellers yet overpowered buyers, pushing prices backmost down to adjacent the opening price.
However, the sheer beingness of the agelong precocious shadiness indicates that buying involvement is re-emerging astatine these debased levels, hinting astatine imaginable bullish reversal higher.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, spot CoinDesk's afloat AI Policy.
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