PANews May 21 news, according to CoinDesk, the price of Shiba Inu (SHIB) rose 16% this month but quickly fell back to $0.00001457 after reaching $0.00001492. Despite a 24-hour burn rate skyrocketing by 106,040%, on-chain data shows that Whale net outflows have decreased by 311%, and active addresses have dropped by 68% since last December. The current range of $0.000014–$0.000015 has become a key support resistance zone, and the technical outlook remains in a downward channel, with a short-term rebound likely facing significant breakeven selling pressure.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Analysis: SHIB surged and then fell back, Whale reducing position pressures the short-term market.
PANews May 21 news, according to CoinDesk, the price of Shiba Inu (SHIB) rose 16% this month but quickly fell back to $0.00001457 after reaching $0.00001492. Despite a 24-hour burn rate skyrocketing by 106,040%, on-chain data shows that Whale net outflows have decreased by 311%, and active addresses have dropped by 68% since last December. The current range of $0.000014–$0.000015 has become a key support resistance zone, and the technical outlook remains in a downward channel, with a short-term rebound likely facing significant breakeven selling pressure.