The SHIBA Inu price is close to the big step as the whale activity dries star-news.press/wp

SHIBA Inu fell by more than 3 % on Sunday, erasing some gains made on Friday after Jerome Powell statement at the Jackson Hall summit.

Shiba Inu (SHIB) movements decreased Bitcoin (BTC) and other major cocoies such as ETHEREUM (ETHNA) and Ethena (Ena). It also coincided with the fall of the whale and the activity of smart money.

Nanson Data He explains that smart money investors carry 40.42 billion symbols today, a decrease from July 48.6 billion. Their holdings have been stagnant since August 5.

Likewise, whales have 45 billion coins, down from the highest level last month of 47.6 billion. The ongoing trend is a sign that major investors are concerned about the SHIB path after it collapsed 60 % of its highest levels in November.

The SHIBA Inu continuous failure of the activity within its environmental system decreased. Data shows that SHIBARIUM, the Layer-2 network launched in 2023 does not witness a great activity.

The total closed value in the network Decline To $ 1.79 million, and there is no stablecoin activity. There are only 17 Defi protocols in its ecological system, including SHIBARIUM, Woofswap, Chewyswap and Dogswap.

SHIBARIUM was created to strengthen the Shiba Inu ecosystem by transferring it from just the Mimi currency to a benefit icon. Its success will also contribute to the Shiba Inu scarcity, as some of the drawings of the bones are converted to SHIB and burned.

Technical analysis of Jiba Ino Price

The daily time frame scheme indicates that the SHIB price is moving sideways over the past few days. As a result, it has been united along the al -Asmiyyah’s moving averages for 50 days and 100 days, and its real average decreased, indicating a decrease in volatility.

SHIBA Inu also formed a similar triangular style. In most cases, upward or declining escape occurs when the two lines converge.

The upward collapse will see a rise to the main resistance level at $ 0.00001600, its highest point on July 22.