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Investors are unhappy as the Shiba Inu price continues to decay


www.fxstreet.com 24 May 2022 00:41, UTC
Reading time: ~2 m

  • SHIBA has not produced any profitable returns since February.
  • Shiba Inu price points to a lack of bullish interest on the volume indicator.
  • Invalidation of the bearish thesis is a breach above $0.00001850.

Shiba Inu price could be deemed a crypto underperformer if market conditions persist. Continual diminishing returns are a probable outcome for the notorious meme coin.

Shiba Inu price shows a lack of bullish interest

]Shiba Inu price is looming with bearish sentiment as investors show no interest at the current $0.00001200 levels. The sideways action is forcing the popular meme coin into a stalemate, with long-term Shiba maximalists pulling the plug on re-investing more capital. Over three months, the underperformance has been documented since the SHIB price fell from the key $0.00004000 levels. Since the plummet, there has been no evidence to entice investors to allocate more Shiba coins to their portfolios.

Shiba Inu price provides further evidence of a lack of interest from key investors in the volume profile. The mundane pattern signals bulls will only be interested in the SHIB price once the current $0.00001200 support level is broken. If market conditions persist, the bears could potentially push the prices below the swing lows at $0.00000500. 

tm/shib/5/23/22

SHIB/USDT 12-Hour Chart

Invalidation of the unfortunate demise of the Shiba Inu price lies at $0.00001850. If the bulls can breach this level, then there is a chance the SHIB price will survive through the crypto bear market with bullish targets at $0.00003000, a 130% increase from the current Shiba Inu price.


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