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Crypto

Shiba Inu's Price Stagnates Despite 42% On-Chain Activity Surge

Guavy AI Editorial Team
Instruments
SHIB
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Shiba Inu's on-chain activity has seen a significant increase of 42%, indicating more transactions. However, this surge in activity hasn't translated into a bullish price trend yet. The token's price is currently stuck below a key resistance level around $0.0000056-$0.0000057, and momentum indicators like RSI remain neutral.

Moreover, trading volume has dropped since previous rallies, suggesting weak buying pressure. For a clear bullish signal, SHIB needs to break above this resistance level with stronger volume and momentum confirming real demand.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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