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Bears Capture SHIB Market as Bulls Withdraw, Surging Price by 2.24%

Published 2023-01-06, 10:16 a/m
© Reuters. Bears Capture SHIB Market as Bulls Withdraw, Surging Price by 2.24%

Coin Edition -

  • Recent research indicates that bears have been dominating the Shiba Inu (SHIB) market.

  • Shorter-term MA crosses above longer-term MA forecasting market correction.

  • Intense opposition at $0.000008632 halted bullish efforts to reverse.

Shiba Inu (SHIB) market prices rapidly rose to $0.000008632 before facing heavy resistance and fell to a session low of $0.000008284, where they ultimately found support. The decline was steady but continuous, indicating that buyers had little inclination to chase the price up.

As the buying pressure increased, the price stabilized at $0.000008350. However, since this upswing had minimal volume, suggesting that purchasers were not highly driven to push the price higher, Shib plummeted to $0.000008294, a 2.24% drop as of press time.

The post Bears Capture SHIB Market as Bulls Withdraw, Surging Price by 2.24% appeared first on Coin Edition.

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