😱Shiba Inu’s Slide: Is the Meme Coin’s Price Hitting the Paws?😿

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  • SHIB took a nose-dive, leaving its upward trend in the dust since the August 5th fiasco
  • Altcoin’s active accounts are like a ghost town, while new transactions are as flat as a pancake since Valentine’s Day

In a move that would make a Shiba Inu blush, the price of SHIB has tumbled, breaking the ascending trendline that was its lifeline since the 5 August market faceplant. Now, the second-largest memecoin might be heading for a dive deeper than a goldfish’s memory. 🤷‍♂️

The once-sturdy uptrend line, which was like a safety net between $0.00001095 and $0.00003315, has now slumped to a meager $0.00001160. And guess what’s next on the menu? The Q1 2024 low of $0.00000837 is looking as appetizing as a dog treat. 🐕

The MACD line, signal line, and histogram are all doing the bearish tango, flashing warning signs like a neon “Sale!” sign. The MACD line staying below the signal line is like a sad puppy looking up at a unreachable treat. 😢

If the MACD line decides to be a hero and leap above the Signal line, aiming for the skies at +0.00000100, and the histogram turns green like a fresh patch of grass, we might just see a reversal. 🌱

But if it decides to play dead, a further drop to -0.00000200 with the histogram diving into the depths of -0.00000015 would be a confirmation that the bear market is here to stay. 🐻

If SHIB takes a dive to its Q1 2024 lows, it’s like the whole internet will be shouting “Panic!” and selling like there’s no tomorrow. But hey, if it bounces back, we might just see it jump up to $0.00002100 to give that broken trendline a high-five. 🙌

Is SHIB’s On-Chain Snooze Fest Leading to a Price Slumber?

Shiba Inu’s active addresses have taken a nosedive, falling from a bustling 2,000+ in mid-February to a record low of 501. It’s like everyone decided to take a nap on the blockchain. 🛌

When network utilization drops like a lead balloon, it’s like the air gets sucked out of the room, and liquidity goes poof! If SHIB can’t shake things up or inspire some bullish enthusiasm, prepare for a bearish bedtime story. 📚

 

And talk about a cliff dive – the number of new transactions plummeted from over 4.6 million to a mere 44,913. That’s like going from a bustling city to a ghost town. 🏚️

Trading volumes are as stagnant as a pond in summer, and investor demand is following suit. When things get this quiet, it’s like you can hear the crickets – and the sound of prices dropping. 🦗

When a coin becomes less desirable than last year’s Christmas sweater, you know it’s in trouble. Smaller trade volumes are like a shrinking party – nobody wants to be there. 🎉

As interest wanes, disillusioned owners might start a sell-off frenzy. Without any network action or a glimmer of hope, SHIB’s price could be heading for a nap – and not the kind you wake up from. 😴

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2025-03-11 12:17