Shiba Inu (SHIB) Loses Its Prestigious Position Again: Is a Comeback Possible?
- Market Position Shift: Shiba Inu (SHIB) has seen its market cap drop to approximately $3.7 billion, losing its status as the second-largest meme coin and now ranking third, reflecting a stark 50% decline in value over the past year.
- MemeCore's Rise: MemeCore (M) has surged 25% in price over the past 24 hours, with a market cap reaching around $4.3 billion, reclaiming the second spot and demonstrating strong performance and potential appeal in the cryptocurrency market.
- Declining User Engagement: Daily transactions on Shibarium have significantly decreased compared to last year, indicating weak demand and declining user engagement, which could further undermine market confidence and increase the risk of a correction for SHIB.
- Investor Behavior Shift: An increasing amount of SHIB tokens are being stored on exchanges, suggesting a shift from self-custody to centralized platforms, thereby raising immediate selling pressure and exacerbating market uncertainty.
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Technical Analysis for X
Technical Sentiment Analysis for X Empire (X). As of , X Empire (X) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for X 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, X 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 $-.
X Empire (X) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.0000103 | -0.000000127 | 0.00000649 | 0.0000166 | 0.0000232 | 0.0000334 | 0.00004 |
| Fibonacci | -0.000000127 | 0.00000627 | 0.0000102 | 0.0000166 | 0.000023 | 0.000027 | 0.0000334 |
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