Shiba Inu Faces Trading Range Challenges Amid Wallet Concentration
- Market Performance: As of the report, Shiba Inu (SHIB) was priced at $0.000004378, reflecting a 1.12% increase over 24 hours with a trading volume of $73.06 million, indicating heightened market activity yet significant resistance challenges remain.
- Active Futures Market: Recent data from CoinGlass shows a 15.72% rise in SHIB's futures trading volume, reaching $99.53 million, while open interest increased by 2.10%, suggesting cautious optimism among traders, with funding rates stable at 0.0029%.
- Concentration Risk: On-chain analytics from Bubblemaps reveal that the largest burn addresses control 41.04% of the supply, while a cluster holding 8.58% raises concerns about potential sell-offs, highlighting the need for vigilance regarding market dynamics.
- Critical Price Movements: Shiba Inu is wedged between strong support and resistance, and if bulls fail to break through resistance, a price decline could ensue, with the market closely monitoring how shifts among key holders could influence future trajectories.
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Technical Analysis for BMT
Technical Sentiment Analysis for Bubblemaps (BMT). As of , Bubblemaps (BMT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BMT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BMT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bubblemaps (BMT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00845 | 0.00977 | 0.0109 | 0.0122 | 0.0134 | 0.0147 | 0.0159 |
| Fibonacci | 0.00977 | 0.0107 | 0.0113 | 0.0122 | 0.0132 | 0.0138 | 0.0147 |
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