• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Struggling Shiba Inu: Will It Overcome 200 EMA Hurdle?
Shiba Inu

Struggling Shiba Inu: Will It Overcome 200 EMA Hurdle?

November 9, 2023 by Aishwarya shashikumar

Shiba Inu (SHIB) cryptocurrency enthusiasts have been closely following recent developments in the market, and one key observation has been the notable price-volume divergence. This divergence, which is evident on the current charts, has caught the attention of traders and investors alike as it could signal a significant shift in the dynamics of the SHIB market.

Price-volume divergence is a technical indicator that traders use to assess the strength of a price trend. In this case, the divergence is marked by the price of SHIB reaching new highs without a corresponding increase in trading volume. This lack of increased volume suggests that the upward price movement may not be driven by strong buying pressure, which can be a precursor to a market correction.

The timing of this divergence is crucial for SHIB. Despite a remarkable 19,000% surge in token burn volume, which typically indicates a reduction in supply and the potential for a price increase, Shiba Inu has not seen a significant price-performance boost. This unexpected outcome has left traders and investors puzzled, as they anticipated a more direct correlation between token burns and price surges.

Furthermore, SHIB has been struggling to breach the 200-day Exponential Moving Average (EMA), a widely followed technical indicator. In bearish conditions, the 200 EMA can act as dynamic resistance, hindering upward price movements, while in bullish markets, it often serves as crucial support. The inability to overcome this threshold is a concerning sign for SHIB’s potential price performance.

Shiba Inu Community’s Burning Enthusiasm

The current landscape for Shiba Inu is a complex one. On one hand, there is an enthusiastic community actively engaging in token burns, which theoretically should reduce the token’s supply and drive prices higher. On the other hand, technical analysis points towards potential challenges, with the 200 EMA acting as a formidable resistance level.

As the broader cryptocurrency market braces for potential corrections, the future of SHIB’s price action remains uncertain. Investors and traders should closely monitor these developments. The price-volume divergence, combined with the token burn surge and the resistance at the 200 EMA, paints a scenario where any bullish news may be quickly offset by broader market conditions or a lack of sustained buying pressure.

In conclusion, the Shiba Inu cryptocurrency is at a critical juncture, and its ability to maintain its current price levels will be closely scrutinized. The divergence between price and volume, coupled with the unique dynamics of token burns and technical resistance, makes for a complex and challenging landscape for SHIB traders and investors. It’s a reminder that the cryptocurrency market can be highly unpredictable, and thorough analysis is essential to make informed decisions.

Filed Under: News, Altcoin News, World Tagged With: Crypto, Cryptocurrency, price surge, Shiba Inu (SHIB)

Primary Sidebar

Recent Posts

  • Bitcoin’s Highs and Lows: How Trade Wars Impact Crypto Prices May 24, 2025
  • Dogecoin Set to Explode? Analyst Predicts 560% Surge to $0.95 May 24, 2025
  • Trump Hosts Exclusive Crypto Dinner for $TRUMP Coin Holders May 24, 2025
  • Upbit Suspends STX Transactions Amid Block Generation Delays May 24, 2025
  • XRP to $27 by July? Analyst Predicts 1,772% Surge in 60 Days May 24, 2025

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2025 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.