Shiba Inu (SHIB) has undergone significant losses in the last 24 hours, in accordance with the larger market drop. The joke token, however, has narrowly surpassed its best Dogecoin rival.
Key price movements
- SHIB experienced a precipitated drop from 0.000015189 to 0.000014130 $, constituting a pronounced depreciation of 7%.
- The central sale was characterized by trading volumes reaching extraordinary levels of 4.33 billions of tokens, considerably exceeding historical trading models.
- Multiple levels of technical support have succumbed to the intensification of the sales pressure during the time of final negotiation, Shib showing an inability to recover the critical resistance threshold at $ 0.000014200.
- While Shib fell below the simple 200-day mobile average (SMA), a long-term trends barometer, it still maintained above the daily graphic Ichimoku Cloud. The wider momentum would be optimistic when prices retain above the cloud, a popular trend indicator.
- Doge, meanwhile, sang 8.50%, but was kept well above its 200-day SMA and the Ichimoku cloud.
Key technical levels and indicators
- Significant resistance materialized at the level of $ 0.0000,15,460 on July 22 at 11:00 p.m., after which prices were decisively overturned on an exceptionally high volume of 926.18 billion tokens, considerably exceeding the average of 24 hours of 676.84 billion.
- A critical technical ventilation occurred on July 23 between 12:00 p.m. and 1:00 p.m., the evaluations going from 0.000014776 to 0.000014035 on an extraordinary volume of 4.33 billions of tokens, establishing formidable resistance at 0.000014400, where the sale of pressure has intensified considerably.
- Later, the token experienced an accelerated decline from 0.000014416 to $ 0.000014125, which represents an additional depreciation of 2% while SHIB violated successive support levels at $ 0.000014200, 0.000014000 and 0.000013950 $.
- The volume increased to 343.37 billion tokens in 13:44 while the cryptocurrency reached an intraday Nadir of 0.000014060660, before setting up a modest recovery which ultimately failed to recover the critical threshold of 0.000014200.
