Based on BitJie, Shiba Inu (SHIB) has seen over 120 billion tokens transferred in the past 48 hours amid increased selling pressure, pushing the token to multiple exchanges and causing further price declines. However, SHIB has not yet entered the oversold territory, with RSI values at 39.92 (1-hour), 36.68 (24-hour), and 35.51 (weekly), all above the 30 threshold. Technical indicators suggest a potential consolidation phase and possible upward movement if the key support level of $0.00000879 holds. Traders are also monitoring signs of volatility easing and faster liquidation speeds, which may signal a trend reversal. As of the report, SHIB traded at $0.000008617, down 2.32% in 24 hours, with trading volume falling 22.85% to $134.5 million.
Shiba Inu Price Rebounds? Key Indicators to Watch
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