Profit-Taking and Bearish Divergence
On-chain data analysis shows that the percentage of Shiba Inu (SHIB) tokens in profit currently stands at 24.3%, representing an intermediate level between historical highs and lows.
This equilibrium explains why SHIB has remained trapped within a narrow range over recent months: investors are regularly taking profits, without enough new buyers stepping in to support prices.
Furthermore, the chart reveals a bearish divergence between SHIB’s price and its Relative Strength Index (RSI). This suggests weakening bullish momentum, with more significant selloffs than previously seen despite price increases. This pattern often precedes a downward breakout.
Shiba : Growing Investor Disinterest
Another alarming indicator is the number of addresses withdrawing from exchanges, which has fallen to a one-year low of just 452. This weakness in outflow volumes demonstrates a lack of interest from investors in SHIB, despite price levels near cycle lows.
With these bearish signals, SHIB finds itself vulnerable in the short term. The first resistance is at $0.0000123, followed by a more significant barrier at $0.0000135. Only a breakthrough above $0.0000141 would challenge this bearish scenario and signal a bullish trend reversal.
To the downside, a break below $0.0000119 could pave the way for a further decline towards $0.0000116 or lower, ending the current consolidation phase, but not in the direction investors would hope for.
Although the broader cryptocurrency market has recently displayed positive momentum, Shiba Inu appears to be struggling. Technical and blockchain signals indicate a possible imminent breakout, but likely in a bearish direction. Investors should therefore remain cautious before considering exposure to SHIB in an uncertain market environment.
How to Buy SHIB on Bitget?
To invest in Shiba Inu (SHIB), Bitget offers a reliable and intuitive platform. Here’s a step-by-step guide to buying SHIB, incorporating Bitget’s innovative AI trading agent, GetAgent:
- Create a Bitget account: Sign up on Bitget and verify your identity to access trading features.
- Deposit funds: Fund your account with cryptocurrency (such as USDT) or fiat currency via bank card or wire transfer.
- Access the SHIB market: Search for the SHIB/USDT pair in Bitget’s “Spot” section.
- Use GetAgent to optimize your purchase: Activate GetAgent, Bitget’s artificial intelligence tool, to analyze market trends in real-time. Configure GetAgent to receive suggestions for optimal entry prices or to automate your buy orders based on key technical levels, such as $0.0000123 or $0.0000119. The AI can also monitor SHIB’s volatility and adjust your strategies accordingly.
- Place a buy order: Choose a market order for immediate execution or a limit order to target a specific price. Confirm your transaction.
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