Shiba Inu (SHIB) Crypto currency suffered a rapid depreciation of 6 percent between 31 July 13:00 and 1 August 12:00. Shıb’s price fell from $ 0.000013 to $ 0.000012 in the time period. This decrease has led to the lowest level of crypto money since July 9th. Analysts, the decline of US President Donald Trump announced the new tariffs in the market leader Bitcoin 
$115,158.34He said it depends on the suppression of the US dollar and the value of the US dollar.
Mobility in Wallets and Effect of Large Investors
According to Coindesk’s market analysis model, the crypto research organization, the amount of SHIB in the central stock exchanges increased rapidly and rose to 84.9 trillion on July 28th. This situation may be a sign that large investors distribute the amount in their hands. In the same period, 4.66 trillion Shıb’s accumulation of $ 63.7 million drew attention.
While the interest of the investors continued, the burns in the Shıb token gained momentum. With the burning of 602 million SHIB, a large leap of 16,700 percent was observed in the burning rate. It was evaluated that this development could be effective on price movements.
Technical View and Price Formation
With the rejection of the price from the resistance point in $ 0.000013, a high -volume sales process began. However, the interest rate of purchasing 1.19 trillion shıb at $ 0.000012 at the level of $ 0.000012 contributed to the strengthening of the support base. It was observed that the increase in the transaction volume encouraged a short -term recovery.
Analysts said that the technical formation of the “reverse rise candle” technical formation in July gives hope in terms of price trend. This formation consists of a candle without a long upper wick and a short body. According to the comments:
This formation may be an early signal of a potential rise return by showing the desire of the bulls to re -enter the market after the fall trends.
Nevertheless, according to technical analysis, if the price of Shıb falls below the lowest level of July 0.00001108 dollars, the rise formation may lose its validity. For this reason, investors were advised to follow the existing technical indicators carefully.
Market Expectations and Expert Reviews
This mobility in the crypto currency market also has the effect of global economic developments. Experts associate the variability, market dynamics and large investor behaviors of Shıb and similar crypto assets in price and transaction volume.
Whether the rise in Shıb will continue in the next period will depend on both technical indicators and market sensitivity closely. It is also stated that the next price movements may be affected by global developments. It is claimed that the Shıb community and the steps taken by big investors may be decisive in the direction of the market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
