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Shiba Inu recovered 11% in one week.
Shiba Inu Token has seen increased activity as altcoin sentiment improves.
SHIB remains bearish and may remain vulnerable to $0.0000075.
Shiba Inu (SHIB/USD) Large investors are trading tokens defiantly against a prolonged bear market. According to WhaleStats data on Nov. 28, SHIB was among the top 10 cryptocurrencies by trading volume among the largest Ethereum whales. IntoTheBlock data also shows that large transactions on the Shiba Inu network have increased by 141% over the past 24 hours.
The surge in trading volume and transactions shows that traders are actively buying and selling SHIB. However, the SHIB price outlook shows the cryptocurrency rose 2.24% during the day and 11% over the week. In fact, it suggests that large investors may be buying memetic cryptocurrencies.
Whale activity on Shiba Inu comes as Santiment data shows growing interest in altcoins. Euphoria has hit a three-month high for altcoins, according to data.as a coin journal reportDogecoin was leading the surge on Musk’s news.SHIB’s rise reflects improved sentiment in a cryptocurrency meme known to follow DOGE’s moves.
On the technical side, SHIB prices are still in a bear market. The MACD indicator has started a bullish crossover but remains bearish.The RSI reading of 45 is well below the midpoint.
Moreover, the recent recovery has pushed SHIB slightly above $0.000009. However, the bulls have yet to regain significant levels. We are considering a bearish view on SHIB in the short term.
SHIB Price It remains vulnerable until the buyer recovers $0.000012. The level is an established resistance and the focus of the SHIB trend pivot.
Even with a slight recovery in price, the weak upside could prompt sellers to try to push the token down again. In a bearish scenario, SHIB can find support at $0.0000075. This is the same low he was in June before the cryptocurrency started its recovery.
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