Can Shiba Inu (SHIB) investors get back their $7 billion profit?
Shiba Inu (SHIB) price followed the broad market signals of red candles recorded daily.
The resulting crash resulted in huge losses for MemCoin investors who planned to take it back.
Shiba Inu investors lose big
Shiba Inu prices dropped by 40%, causing more damage than expected. One of the worst scourges is the loss of billions of dollars borne by SHIB owners.
According to the Global In/Out Money (GOM) indicator, nearly 424 trillion SHIB, worth more than $7.3 billion, went into losses. This offer was purchased between $0.00001700 and $0.00001900. When MemCoin crashed last month, it dragged this offering along with 190 trillion SHIB into bankruptcy.
The investors, however, are not discouraged by this loss and intend to recover their profits. Similar evidence is found in the Middle Coin Age (MCA). Average coin age measures the average age of all coins in the network, indicating when they were last moved.
A higher average age of a coin indicates a trend of holding, while a lower age indicates an increase in trading activity. Since SHIB is keeping its assets, meme coin investors seem to be making their assets now.
Read more: How to buy a Shiba Inu (SHIB) and everything you need to know
This is a good sign, as it indicates that Shiba Inu investors are based on a high level of guilt, which allows for recovery.
SHIB Price Forecast: Future Consolidation
The price of Shiba Inu may increase in the coming days, but this will be limited by the resistance level of $0.00002093. Just above the $0.00002000 key price level, the altcoin has tested several times as a support floor in the past.
Hence, SHIB will continue to strengthen accordingly and will require strong bullish signals from the market to breach it.
Read More: Shiba Inu (SHIB) Price Prediction 2024/2025/2030
On the other hand, if the decline continues, meme coin can go down to $0.00001473. This price point marks a critical support floor for the Shiba Inu price. Losing it can derail bully-neutral research altogether.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
