Cryptocurrency Chronicles: A Shiba Inu‘s Tale of Woe
It is a truth universally acknowledged, that a cryptocurrency in possession of a good fortune must be in want of stability. Yet, the dog-themed token Shiba Inu (SHIB) finds itself in quite the predicament. 🐕 Despite boasting a transaction volume of2.38 trillion SHIB in the past day, as per IntoTheBlock’s revelations, this figure is but a shadow of its former self, having plummeted from the lofty heights of4.54 trillion SHIB mere days prior, on the31st of March.
The SHIB’s value, alas, has taken a tumble, falling nearly3% in the last24 hours, a reflection of the broader market’s malaise. Of the reported transactions, a staggering1.67 trillion SHIB were of a particularly substantial nature, with each exceeding the sum of $100,000. 🐳 One might conjecture that these transactions hint at the movements of whales, those enigmatic creatures of the crypto deep, whose activities may signify either accumulation or divestment. Yet, even these large transactions have not escaped unscathed, having dwindled by53.32% to a mere $21.25 million.
As of this missive, SHIB languishes, down2.82% in the past day at $0.00001236, and a more distressing20% over the week. The SHIB market, it seems, has been rather beleaguered by the prevailing downturn, struggling to find its feet amidst the on-chain commotion. Holders of Shiba Inu, it appears, are in a state of anticipation, with active addresses plummeting by32.84% in the last day, according to IntoTheBlock’s insights.
After enduring five days of decline, SHIB did manage a brief resurgence on the1st of April, reaching the giddy heights of $0.00001314. However, such gains were fleeting, as the market’s broader losses swiftly quashed any hopes of sustained recovery. The cryptocurrency market, on the morning of Wednesday, found itself once more under the yoke of selling pressure, with Bitcoin and its ilk all experiencing a dip. In the tumult, crypto derivatives traders were not spared, suffering a collective $270 million in crypto liquidations, of which $161 million were leveraged longs.
Shiba Inu, too, could not escape the bearish tide, dipping to lows of $0.0000121 before regaining some semblance of composure at its current trading value. A return above the daily moving averages of50 and200, at $0.0000137 and $0.0000191 respectively, would herald a bullish resurgence, while the stalwart support at $0.00001082 stands ready to catch any further falls, should the present decline persist. 📈📉
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2025-04-02 16:56