Crypto

Shiba INU Losing the Grip, This Could be Target for the End of December 2022!

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The crypto market has turned slightly bullish as the recent CPI rates which were lowered from 7.7% to & 7.1% have positively impacted the crypto space. The Bitcoin price surged in no time recording monthly highs at $18,000 but also dropped quickly ahead. The rise also awakened the altcoins that were stagnant for the past week. 

Regardless of the stagnant trend of SHIB, the whales continue to accumulate as the number of large transactions (more than $100K) fell an inch short to hit 10K txs, which is the highest in the past 7 days. 

intotheblock

The SHIB price has been stuck within a region between $0.00000953 and $0.00000891 for nearly a month. While multiple attempts of breaking through the range stood ineffective, a sense of indecisiveness emerged among the market participants. Meanwhile, the current trade setup displays signs of reversal from $0.0000089 to as high as $0.00000964. 

The current whale movement appears to be quite sluggish, in times when the price is decreasing signaling a potential jump in the SHIB price soon. 

Trading View

The Shiba INU price is trading sideways for nearly a month now as the volume has slashed heavily. Moreover, the sequence of the red & green candles indicates the participants are unsure about the upcoming trend. However, considering the current pattern, the SHIB price could trade in a similar way to reach the pinnacle of the consolidation of the symmetric triangle. Post to which a notable surge may be imminent. 

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