Shiba Inu Price Tumbles 18% Amidst Crypto Market Downturn

BE[IN]CRYPTO11-13

Shiba Inu’s price has plummeted by 18%, indicating a downtrend fueled by weak market sentiment. Falling open interest and declining Mean Dollar Invested Age (MDIA) reflect increased selling pressure. ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShiba Inu Price Tumbles 18% Amidst Crypto Market Downturn\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/shib-price-drop-18/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shiba Inu’s price has plummeted by 18%, indicating a downtrend fueled by weak market sentiment.\nFalling open interest and declining Mean Dollar Invested Age (MDIA) reflect increased selling pressure.\n...</p>\n\n<a href=\"https://beincrypto.com/shib-price-drop-18/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4125","symbol_name":"广播","start_time":0,"source_url":"https://beincrypto.com/shib-price-drop-18/","article_id":"2483880000","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2024/10/bic_Shiba_Inu_5-covers_bearish-850x478.jpg.optimal.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483880000","pubTimestamp":1731508200,"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Shiba Inu’s price has plummeted by 18%, indicating a downtrend fueled by weak market sentiment.Falling open interest and declining Mean Dollar Invested Age  reflect increased selling pressure.If SHIB fails to hold the 20-day EMA at $0.000020, it could drop to $0.000016; otherwise, support could spark a recovery.Leading meme coin Shiba Inu  has seen an 18% price drop in the past 24 hours. This mirrors the broader cryptocurrency market’s downturn, with global market capitalization falling by 5% over the same period.An assessment of the meme coin’s on-chain and technical setup has revealed a weakening bullish momentum and a growing dominance of bearish sentiment. This indicates that SHIB may extend this downtrend. Here is how.Additionally, the meme coin’s Mean Dollar Invested Age  has declined steadily since November 9, confirming the uptick in selling pressure in the market. As of this writing, SHIB’s MDIA is 877, having decreased by 1.5% over the past four days.When an asset’s MDIA fall","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4125":"广播","BK4126":"金属与玻璃容器","OI":"欧文斯伊利诺玻璃","MDIA":"Mediaco Holding Inc."},"translate_title":"加密货币市场低迷，柴犬价格暴跌18%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MDIA":1,"OI":1},"content_text":"Shiba Inu’s price has plummeted by 18%, indicating a downtrend fueled by weak market sentiment.\nFalling open interest and declining Mean Dollar Invested Age (MDIA) reflect increased selling pressure.\nIf SHIB fails to hold the 20-day EMA at $0.000020, it could drop to $0.000016; otherwise, support could spark a recovery.\n\nLeading meme coin Shiba Inu (SHIB) has seen an 18% price drop in the past 24 hours. This mirrors the broader cryptocurrency market’s downturn, with global market capitalization falling by 5% over the same period.\nAn assessment of the meme coin’s on-chain and technical setup has revealed a weakening bullish momentum and a growing dominance of bearish sentiment. This indicates that SHIB may extend this downtrend. Here is how. \nShiba Inu Loses Its Bulls\nShiba Inu’s declining open interest (OI) confirms the decrease in market activity and a waning of bullish enthusiasm among the meme coin holders. As of this writing, this stands at $82.49 million, noting a 32% fall over the past 24 hours. \nShiba Inu Open Interest. Source: Coinglass\nOI refers to the total number of active contracts in the futures or options market that have not yet been settled, expired, or closed out. When it falls, it is a bearish signal. It suggests that traders are closing out their positions, likely because they believe the asset’s value will continue to drop or because they want to limit losses. \nThis drop in OI amid falling prices, as in SHIB’s case, is a sign that bearish sentiment is strong among market participants.\nAdditionally, the meme coin’s Mean Dollar Invested Age (MDIA) has declined steadily since November 9, confirming the uptick in selling pressure in the market. As of this writing, SHIB’s MDIA is 877, having decreased by 1.5% over the past four days.\nShiba Inu MDIA. Source: Santiment\nThe MDIA tracks the average age of coins based on their dollar value. It measures how long, on average, a dollar invested in a cryptocurrency has remained idle in its current wallet address. A higher MDIA suggests that investors have kept their holdings over extended periods, while a lower MDIA means recent capital inflows or outflows.\nWhen an asset’s MDIA falls, it suggests that older coins are being moved, indicating increased trading activity. When this happens during a period of price decline, it indicates profit-taking or loss-cutting. \nIt suggests a shift in market sentiment, with investors showing a greater willingness to sell their holdings. This selling activity contributes to a bearish trend as selling pressure outweighs buying pressure.\nSHIB Price Prediction: Key Targets To Watch\nAs of this writing, Shiba Inu trades at $0.000023. Its double-digit fall over the past 24 hours has caused its price to decline toward its 20-day exponential moving average (EMA), which tracks its average price over the past 20 trading days.\nThe 20-day EMA acts as a dynamic support level in an upward trend. A decline towards this level means a drop in buying pressure. \nHowever, it offers a support floor where price corrections or pullbacks often find buying interest. For Shiba Inu, its 20-day EMA forms support at $0.000020.\nIf the price breaks below the 20-day EMA, it indicates a shift in momentum, as the meme coin is no longer finding support at this level. This breakdown will attract further selling, as traders view it as a bearish sign, prompting them to exit or take short positions. Should the $0.000020 price level fail to hold as support, the SHIB price drop will continue to $0.000016. \nShiba Inu Price Analysis. Source: TradingView\nHowever, if the 20-day EMA provides support, SHIB’s price may resume its uptrend and attempt to reclaim $0.000028.\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\nChain GPT\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\nCoinbase\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\n3Commas\n\n\n\n\n\n\n\n\nChain GPT","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483880000"}