Shiba Inu (Shib) has suffered significant losses in the last 24 hours in accordance with the decline of the wider market. However, the joke token narrowly surpassed its supreme rival Dogecoin.
Keypris movements
- Shib experienced a bottom -up fall from $ 0.000015189 to $ 0.000014130, which was a pronounced 7% depreciation.
- The pivotal sale was characterized by trading volumes that reached extraordinary levels of 4.33 trillion tokens, which essentially exceeded historical trading patterns.
- Several technical support levels succumbed to intensify the sales pressure during the final trade time, with Shib demonstrating an inability to regain the critical resistance threshold to $ 0.000014200.
- While Shib fell under the 200-day simple sliding average (SMA), a barometer of long-term trends, it still held over the daily chart ichimoku-cloud. The wider momentum is said to be bullish when prices hold over the cloud, a popular trend indicator.
- Meanwhile, DOGE taned 8.50%, but kept well over his 200-day SMA and the Ichimoku cloud.
The main technical levels and indicators
- Significant resistance is materialized at $ 0.000015460 level on July 22 at. 23:00, on which the price action turned decisively down to an unusually elevated volume of 926.18 billion tokens, which essentially surpassed the 24-hour average of 676.84 billion.
- A critical technical collapse happened on July 23 between 12:00 and 13:00, with valuations dropping from $ 0.000014776 to $ 0.000014035 on an extraordinary volume of 4.33 trillion tokens, establishing formidable resistance of $ 0.000014400 level where selling pressure intensified dramatically.
- Later, the token witnessed an accelerated decline from $ 0.000014416 to $ 0.000014125, representing an additional 2% depreciation such as Shib violated successive support levels of $ 0.000014200, $ 0.000014000 and $ 0.000013950.
- Volume rose to 343.37 billion tokens over 13:44, when Cryptocurrency reached an intradagnadir of $ 0.000014060 before mounting a modest recovery that ultimately couldn’t regain the critical $ 0.000014200 resistance threshold.
