Shiba Inu (Shib), the second largest memory in the world, has had a difficult week. Even so, cryptocurrency appears on the way to record a monthly two -digit gain.
Shib fell to $ 0.00001263 early today, the lowest since July 10. Prices have dropped almost 9% for the week, with a loss of more than 2% in the last 24 hours. The weakness is consistent with the mood seen in the Memecoin sector. The memecoin index of Coindesk (CDMEME) has decreased by 10% in seven days.
The volatility of prices in Shib is aligned with broader changes in the cryptography market, as the uncertainty of the policy reforms the assignment of digital assets. Token’s failure to meet despite aggressive burns programs underlines the preference of investors for projects promoted by public services on pure speculation plays.
Key insights
- Shibes of Shibes 2.28% of $ 0.000013107 at $ 0.000012809 during a 24 -hour window ending July 30, 14:00
- The burns mechanism destroyed 600 million tokens in a single session, marking an increase in the destruction rate of 16.710%
- The Bonk competitors, Pengu and and the ship’s capture merchant promoted by public services flow as Shib loses the leadership of memes coins.
Technical levels
- The price decreased by 2.28% of $ 0.000013107 to $ 0.000012809 during the 24 -hour period.
- The negotiation bandwidth covers $ 0.0000005215, equivalent to 4.12% of the total range.
- The resistance limited the advances to $ 0.000013184 with rejection during the session of 17:00.
- The support arose at $ 0.000012663, backed by 1.25 billion token volume.
- The bearish trend intensified after 10:00 in July 30, with consecutive lower peaks.
- The bouncing of the late session offered a gain of 0.25% in the final negotiation time.
- The volume explosion reached 43.5 billion tokens during Rally phase 13: 57-13: 59.
- The three -wave pattern emerged: consolidation, distribution, then short coverage.
Bullish tracks
Shib’s monthly pricing table shows that the Token is likely to finish Julio with an inverted hammer candle, since he seems to bounce for minimums of the year to date.
An inverted hammer that appeared after the bearish trend or in the minimums of the market indicates that buyers tried to boost the significantly higher price during the period, but the vendors finally dominated the buyers, which led prices to almost the opening price.
However, the great presence of the long upper shadow indicates that the purchase interest is resurfaceing at these low levels, hinting at a possible higher upward investment.
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