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Crypto

SHIB Price Stuck Between Resistance and Larger Barrier

Guavy AI Editorial Team
Instruments
SHIB
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Shiba Inu (SHIB) continues to face resistance at its 100-day moving average, failing for the second time in recent days to close above it.

The token has been struggling to break through this barrier, with a high of $0.00000505 on August 2 stopping just short of the average before price pulled back.

According to CryptoQuant's Active Receiving Addresses metric, a spike in addresses receiving SHIB on July 6 was not sustained and did not develop into a trend.

The larger barrier for SHIB sits near $0.00000550, with further resistance at the 200-day SMA of around $0.00000570 and a horizontal barrier around $0.00000580.

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