It's worth evaluating Shiba Inu's performance in August with a keen focus on the level of demand as the price approaches breakout...
A look at the latest Shiba Inu developments and demand levels as a wedge price pattern emerges on the charts.Can Shiba Inu still pull off a strong comeback in the next major bullish phase? The memecoin segment has been rapidly becoming saturated over the past few months as more memecoins enter the fold.is still seeing some healthy activity, despite the ballooning competition. This includes fresh developments that may impact its position and competitive edge in the segment.
Similarly, retail holdings rose from 220.75 trillion tokens in January to 264.75 trillion SHIB on 5 August. Alas, they have since reduced their holdings to 262.14 trillion as of 29 August, signaling that most of the recent demand came from whales and investors.Shiba Inu has been trading in a triangle/wedge pattern from its peak in March to its current press time levels.
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