Shiba Inu has gained 13% in ten days and reinforced bullish expectations. Yet, on-chain metrics showed that selling pressure was imminent.
displayed a bullish bias on the 1-day price chart. It was yet to convincingly break the recent lower high, but its indicators showed promise. AMBCrypto noted that the Shiba Inu burn rate had
In the past two months, SHIB has retested this level thrice before bouncing higher. The more recent retest came on 23rd January. The past week saw the OBV climb higher, which hasn’t happened consistently since early January. In that scenario, a rally to the $0.00001195 and higher to the Fibonacci extension levels can be expected over the coming weeks.The mean coin age metric noted steady and significant gains in the latter half of December and throughout January. Yet, it took a sharp downturn in February. The downtrend meant holders were moving their SHIB, presumably to centralized exchanges to sell the token.
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