The Shiba Inu (SHIB) token continues to face significant challenges in its price recovery efforts, primarily due to a substantial volume of tokens held on exchanges. Experts in the publication emphasize that this situation has created a persistent barrier that hinders any upward momentum in the market.
SHIB Price Increase and Sell Orders
Recent observations indicate that whenever SHIB experiences a price increase, a surge of sell orders quickly follows, effectively absorbing the demand and reinforcing a bearish sentiment among traders.
Exchange Balances as Resistance
This pattern has established exchange balances as a de facto resistance zone, complicating any attempts for SHIB to gain traction in the market.
Investor Sentiment and Recovery Potential
As a result, investors are left questioning the token's potential for a meaningful recovery in the near future.
Recent analysis revealed concerning bearish patterns for the Pi Network token, indicating potential declines that contrast with the ongoing challenges faced by the Shiba Inu (SHIB) token. For more details, see further decline.
