Shiba Inu Struggles in Booming Memecoin Market
- Market Underperformance: Despite the memecoin market reaching a capitalization of $35.6 billion, Shiba Inu (SHIB) has failed to keep pace, with trading volumes around $3.79 billion, indicating its relative weakness in the high-risk digital asset space, which may affect investor confidence.
- Liquidity Analysis: On-chain data reveals stable net flows for Shiba Inu, suggesting an undecided stance among market participants, as the lack of significant buy or sell orders keeps SHIB trading in a narrow range below critical averages, potentially extending its downtrend.
- Rising Speculative Interest: Although active addresses and increased exchange engagements indicate growing speculative interest in memecoins, these signs have yet to translate into tangible gains for Shiba Inu, reflecting a cautious market sentiment regarding its future performance.
- Price Dynamics: Currently trading at $0.000006258, Shiba Inu has seen a slight 2.63% rise over the past day; however, it remains unable to break key resistance levels, indicating its lack of leadership in the memecoin resurgence, with investors awaiting clearer market signals.
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Technical Analysis for MEME
Technical Sentiment Analysis for Memecoin (MEME). As of , Memecoin (MEME) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MEME 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, MEME 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 $-.
Memecoin (MEME) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000393 | 0.000438 | 0.000477 | 0.000522 | 0.000561 | 0.000606 | 0.000645 |
| Fibonacci | 0.000438 | 0.000471 | 0.00049 | 0.000522 | 0.000555 | 0.000574 | 0.000606 |
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