- The price of SHIB has decreased by over 1%.
- Shiba Inu’s outflow was almost double the inflow.
Following the recent uptrends in Shiba Inu [SHIB], there has been a notable decline in the past few days, causing a decrease in the price. How have traders reacted to this change?
Shiba Inu resumes decline
The analysis of Shiba Inu on the daily timeframe showed a decline in value over the last three days. The chart showed around an 8% decrease, following around 10 days of upward trends.
The primary downturn occurred on the 11th of December, resulting in a decline of about 7.8%. Despite a minor recovery of less than 1% on the 12th of December, it experienced a subsequent fall.
As of this writing, SHIB was trading with a decline of over 1.8%. The chart showed that the significant 7% decline on 11 December pushed its Relative Strength Index (RSI) below 60.
As of press time, the RSI remained below 60, suggesting that it was still in a bullish trend, but with a gradual weakening trend.
Exchange flow shows accumulation interest in Shiba Inu
An analysis of Shiba Inu’s exchange flow on Santiment showed a continued accumulation trend despite the recent decline in price. As of this writing, the inflow of SHIB tokens into exchanges was around 26.3 billion.
The volume reflected the number of tokens entering exchanges for potential sale.
Go to Source to See Full Article
Author: Adewale Olarinde
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
