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Three reasons why meme coin enthusiasts need to stay away from Shiba Inu

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Shiba News

Cryptocurrencies,Technical Analysis

Shiba Inu (SHIB) price hovers around $0.0252, pondering on a directional bias.

Shiba Inu price continues consolidation above $0.0197 to $0.0273 level. On-chain metrics reveal that investors are looking to book profits.

holders are actively booking profit as indicated by the Network Realized Profit/Loss indicator. Positive spikes suggest that investors are realizing profits and vice versa. After a 32% ascent in Shiba Inu price in the past two weeks or so, there have been three significant NPL upticks, suggesting active profit-taking and showcasing a bearish outlook for

NPL, Supply on Exchanges Lastly, the Whale Transaction Count , transfers worth $100,000 or more, for Shiba Inu price also spiked during the recent uptick, showing that institutional investors were also looking to sell. slips 20% lower from $0.0252 to collect sell-side liquidity below $0.0205, before kickstarting a rally to $0.0315. Instead,

Cryptocurrencies Technical Analysis

 

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