$SHIB price action, whale activity and a lack of solid growth drivers point to a possible termination of the coin's bullish trend
recently enjoyed a surge in price, capturing attention and gaining new investors. However, several indicators suggest the uptrend could be nearing an end. Here are three reasons why:
A successful move above a technical level like the 200-day exponential moving average is often a bullish sign. Unfortunately forholders, the token could not sustain its position above this crucial benchmark. It briefly broke the 200 EMA but retraced its steps, falling back below this resistance level. Such a pattern signals potential vulnerability and might hint at an underlying weakness in the asset's price dynamics.
While taking profits is a natural part of any investment process, a mass exodus by whales can be a precursor to a more extensive dip, given their significant influence on market movements.
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