As $XRP awaits case resolution and $SHIB is facing a sell-off, $ADA successfully recovers
has seen a notable increase in the selling of tokens held by short-term holders. The age of tokens sold yesterday dropped to just one month, a stark contrast to the six-month average observed a few days ago. This shift in investor behavior can be attributed to SHIB's underwhelming price performance over the past few weeks.
Despite the broader cryptocurrency market showing signs of recovery, Shiba Inu has failed to exhibit any significant strengthening. The meme token has been moving in a nonvolatile uptrend, disappointing investors who had hoped for more robust price action. This lackluster performance has likely led to the rapid selling of SHIB by short-term holders, who are looking to cut their losses or reallocate their investments elsewhere.
The SEC's lawsuit against Ripple Labs and its executives alleges that the company conducted unregistered securities offerings through the sale of XRP. The case has been ongoing since December 2020 and has had a significant impact on XRP's price and overall market performance. While the legal battle rages on, the market has been left in a state of limbo, with many investors unsure of XRP's future. This uncertainty has led to a consolidation phase after the explosive rally that started on March 21, and XRP's price remains rangebound, lacking the momentum to break out of its current channel. has shown impressive resilience in its recent price action, recovering above the crucial 200-day Exponential Moving Average despite a reversal yesterday.
The recovery above the 200-day EMA is a significant development for Cardano, as it demonstrates the asset's underlying strength and ability to bounce back from short-term setbacks. Additionally, maintaining a position above this key indicator can serve as a bullish signal for investors, who may view it as a confirmation of a longer-term uptrend.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shiba Inu (SHIB) Burn Rate up 1,100%, Here Are 3 Key Implications for PriceShiba Inu burn rate has topped 1,100% in what may stir turnaround for slipping price
Read more »
Shiba Inu (SHIB) On-Chain Metrics Show Mysterious Patterns: DetailsDespite calm price performance, there's something to see in $SHIB on-chain metrics
Read more »
Shibarium and NOWPayments Join Forces: Shiba Inu (SHIB) Lead ApprovesShiba Inu $SHIB lead gives green light for Shibarium and NOWPayments_io partnership shibainu shib shibarmy shibarium shibaeternity shibadoge shibburn bone $bone
Read more »
Shiba Inu (SHIB) Lead Hints at Game-Changing Move, What Could It Be?Shiba Inu (SHIB) lead drops teaser on next move, what could the big surprise be? SHIB ShytoshiKusama $SHIB ShibArmy SHIBCommunity
Read more »
Shiba Inu (SHIB) Surpasses Ethereum (ETH) as Top Trending Asset on CoinMarketCapPopular meme coin is more trendy than Ethereum despite ETH's price surge to $2,000
Read more »
Shiba Inu's BONE Prepares for Major Move, Here Are Two TriggersShiba Inu's BONE braces for significant shift, with two key indicators $BONE BoneArmy Shibarium BoneShibaSwap
Read more »