Shiba Inu (SHIB), All 7 Indicators 'Sell'...Long-Term and Short-Term Investors All Liquidate and Exit

▲ Shiba Inu (SHIB), Bear Market/AI Generated Image

Shiba Inu (SHIB) is facing extreme selling pressure, recording a spot fund outflow across all seven analysis periods.

According to U.Today, a cryptocurrency specialized media outlet, on September 17 (local time), CoinGlass data analysis showed that Shiba Inu recorded a net spot outflow across all seven time frame indicators: 1 hour, 4 hours, 12 hours, 24 hours, 1 week, 1 month, and 3 months. This indicates that fund flows have turned negative across the board, from short-term trading to mid-to-long-term holding periods. In the last 24 hours alone, a net outflow of Shiba Inu worth $206,000 solidified the selling dominance.

The price trend is also firmly stuck in a downward trend. Shiba Inu has been continuously pushed down since recording a high of $0.0000142 on September 13, falling to the $0.0000127 level. This is a drop of more than 10% from its peak, and selling pressure has emerged with every attempted rebound, making it difficult to defend short-term support levels.

The enthusiasm in the derivatives market is also cooling. Open interest decreased by 6.44% from the previous day to $119.4 million, and futures trading volume also remained at around $240 million, indicating a slowdown in overall market trading vitality. As leveraged positions are liquidated or reduced, the liquidity momentum to drive further rebounds has weakened.

Market experts assess that for Shiba Inu to seek a meaningful rebound, a shift to net fund inflow into spot exchanges and a recovery in derivatives open interest must precede it. They point out that if the fund outflow across all periods does not subside, the possibility of further price adjustments cannot be ruled out.

[Key Article Summary]

-Shiba Inu recorded a net spot outflow across all 7 analysis periods, from 1 hour to 3 months, succumbing to selling pressure.

-In the last 24 hours, $206,000 was net outflowed, with the price falling more than 10% to the $0.0000127 level.

-Derivative market indicators, such as a 6.44% decrease in open interest, also showed a slowdown, weakening short-term rebound momentum.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*