Alright, folks, gather ’round! Technical mumbo jumbo and on-chain data (whatever that is) 🧐 suggest Shiba Inu, that dog-themed crypto thingy, is about to do something. Maybe good, maybe bad, who knows! Apparently, 13.7 trillion SHIB tokens are sitting around like teenagers waiting for something exciting to happen, right around the break-even point of $0.000012. Which, let’s be honest, sounds like Monopoly money. 🤷♀️
From a price action standpoint, SHIB is in a “protracted downward trend.” Sounds like my dating life! 😂 It keeps bumping into the 50 EMA (which I’m guessing isn’t an email marketing campaign), and until it breaks through, any rallies are just wishful thinking. The volume profile? Don’t even ask. It’s flatter than my pancake attempts. 🥞
Daily volume is “flat and comparatively low,” which is code for “nobody cares.” The RSI is hovering around neutral, which means even the robots are bored. 🤖 But wait! On-chain data (still don’t know what it is) paints a slightly more confusing picture. Apparently, 21.9K addresses with 12.57 trillion SHIB are at the money (not literally, I hope). 💰
These holders are ready to dump their SHIB the second it rises a teensy bit, because “strong sell-side pressure.” Meanwhile, 398,000 addresses holding 676 trillion SHIB are underwater. 🌊 So, if SHIB goes above $0.000012, expect a mass exodus or, you know, maybe just more confusion. 🤔
Basically, SHIB needs to break above $0.000012-$0.000013 with “significant volume” (lots of people buying, I guess). If not, it’s going back to $0.00001050 or lower. The 13.7 trillion SHIB at break-even is like a loaded spring. 💥 Will it lead to a breakout or a breakdown? Only the market gods know! 🙏
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2025-04-17 16:30