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Shiba Inu Faces Market Volatility Amid Token Flood into Exchanges
Shiba Inu ($SHIB) is experiencing increased market volatility as a large volume of tokens is being transferred to various exchanges. Between May 29 and 30, the price of $SHIB fluctuated within an 8% range, oscillating from $0.000013252 to $0.000014508. The support level remains strong at $0.000013285, yet the resistance around $0.000014500 appears weak, potentially limiting upward momentum.
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AI Analysis
The recent influx of billions of $SHIB tokens into exchanges suggests increased selling or liquidity movement, which can lead to heightened price volatility. The fluctuation within an 8% range over a ...
AI Recommendation
Given the current volatility and the weak resistance level, investors should consider adopting a wait-and-see approach. It might be prudent to avoid aggressive buy or sell decisions until clearer dire...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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