Shiba Inu (SHIB) Reaches Pivotal Moment: Crypto Market Review, October 7

The lack of volatility, poor price performance and the disappearance of whale support led to catastrophic consequences for the token, as the speculative interest was the main fuel for it back in 2021.According to volume profiles, Shiba Inu is losing most of its support from short-term investors and traders. The most likely scenario for the token remains the continuation of the prolonged downtrend it has been in for the whole year.

After reaching the ATH, Shiba Inu whales were actively supporting the token on its way down, aiming for a reversal at some point. Unfortunately, the huge dominance of whales on the assets did not help it to enter an uptrend, as the percentage of retail investors who are willing to get rid of their tokens as soon as possible is too high.

The lack of inflows, low trading volume and questionable conditions of the economy in the U.S. are driving the price of the first cryptocurrency way down. Yet another failure to break the local resistance level will lead to a reversal back to the lower border of the consolidation range.Unfortunately, Bitcoin is not showing any signs that would suggest an upcoming breakthrough from the channel it has been moving in for the last 100 days.

The situation on Bitcoin is projected for other cryptocurrencies, Ethereum included, which still has not recovered from the massive loss it took after the implementation of the Merge update. The inability to break the first untested resistance level shows the lack of power behind every movement of Ether. The situation will most likely change with the general recovery of the cryptocurrency market.

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Aren’t you surprised to see everyone is silent on this?

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Shiba Inu (SHIB) Reaches Pivotal Moment: Crypto Market Review, October 7$SHIB will make another attempt at breaking the local resistance level, but it might fail considering underlying factors Uniswaap mmust fix this aas soon aas possible Aren’t you surprised to see everyone is silent on this? Aren’t you surprised to see everyone is silent on this?
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