Billions of Shiba Inu spotted being sent from Coinbase
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From a technical standpoint, SHIB's price has been experiencing fluctuations, currently hovering around key support and resistance levels. The asset's price recently tested the resistance at $0.00002270 but failed to break through, leading to a retest of lower support levels near $0.00002172.manages to consolidate above this support, there could be potential for a rally toward the resistance at $0.00002396, providing a growth scenario for the asset.
A failure to hold the support level could push SHIB's price slide toward further lows, possibly testing the next significant support near $0.00001741 that coincides with 200 EMA. Such movements will be critical to watch, as they could dictate the short-term market sentiment and trading behavior around SHIB.
Overall, the large transfers and the current on-chain data for Shiba Inu paint a picture of an active network with fluctuating investor interest. Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.
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