$SHIB , why has the 24-hour trading volume shrunk to 1.9 trillion? It's really puzzling!
Looking at the data, hey, large transactions have decreased by 76.21%, as if the big players have collectively retreated. This 1.9 trillion SHIB, converted to USD, is only 54.1 million, which is far less than before.
The price of Shiba Inu is also disappointing, down 2.05%, now selling for only 0.00002744 USD. The trading volume has also dropped, remaining at only 854 million USD. People in the market have become cautious, probably thinking about cashing out.
Although the cryptocurrency market made a slight recovery on Wednesday, SHIB still couldn't keep up the pace, continuously falling for the first two days of the week, hitting a low of 0.0000242 USD on Tuesday.
With the drop in both price and trading volume, it seems SHIB needs to take a break. Just think about how it surged to 0.0000334 USD on December 8th, and now the tides have truly turned.
Traders and investors are probably just watching from the sidelines; as the market cools down, large transactions have decreased. Those short-term traders might be eager to cash out, leading to the quieting of large transactions.
Looking at SHIB's price trend, it rebounded to 0.000030 USD on December 12th but got stuck there, as it seems the bears are selling off again.
The RSI indicator has now returned to the middle position, indicating a stalemate between buyers and sellers. Shiba Inu might be swaying between the 50-day moving average at 0.0000244 USD and the resistance line above at 0.00003344 USD.
If buyers can push the price above 0.00003344 USD, they would win, and Shiba Inu might continue to rise to 0.000039 USD, or even 0.000046 USD. But if the SHIB price falls below the 50-day moving average, the bears will be pleased.
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