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Shiba Inu Bearish Pressure: What’s Next for SHIB?
Shiba Inu is under Shiba Inu bearish pressure despite a huge 2532% surge in token burns. While burning tokens can reduce supply and potentially increase value, SHIB’s price dropped 6.16% to $0.00001469. The bearish sentiment remains strong, and technical indicators like the head and shoulders pattern suggest the risk of further declines. The critical $0.0000147 support level is being tested, and a breakdown could push SHIB to $0.00001261, intensifying the Shiba Inu bearish pressure.
On-chain data adds to the concern. Network growth is just 0.27%, showing weak adoption. The “in the money” metric dropped 1.06%, meaning many holders are at a loss. Plus, a 5% drop in large transactions suggests declining institutional interest. If support doesn’t hold, SHIB might struggle to gain momentum, and without new bullish catalysts, a recovery could remain out of reach.
Litecoin Price Decline: What’s Behind the Drop?
The Litecoin price decline continues to catch attention, with the coin struggling to find solid ground in the current market. After showing promise earlier in 2024, Litecoin’s momentum has shifted downward, influenced by broader market trends and reduced trading volume. The coin’s inability to break past key resistance levels has added to the pressure, leaving many wondering if a rebound is on the horizon or if more losses are ahead.
Technical indicators for Litecoin paint a cautious picture. The Litecoin price decline is not just a result of market sentiment but also due to weakening on-chain metrics. Large transactions on the network have decreased, suggesting that institutional support may be fading. Without new catalysts or a shift in market dynamics, Litecoin might face continued challenges, making it a critical time for those keeping an eye on its next move.
Summing Up
Shiba Inu continues to struggle under 5%Shiba Inu bearish pressure5%, with its recent 2532% token burn failing to lift the price. Meanwhile, the 5%Litecoin price decline5% shows no sign of stopping, with weakening on-chain metrics and reduced institutional interest adding to the uncertainty. Both projects face challenging market conditions, and short-term recoveries seem uncertain.
In contrast, BlockDAG is offering a unique chance for gains with its BDAG800 bonus code. By leveraging the 400% bonus, participants can effectively turn $1 into $5, positioning BlockDAG as a 5%top trending crypto5% to watch. With nearly $200 million raised, 18.6 billion BDAG coins sold, and listings on 10 major CEXs coming soon, those who act fast could capitalize on BlockDAG’s presale rewards and potentially benefit from future price growth.
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