ShibaInu [SHIB] traders must know this before squaring off their position
Secondly, this week, the altcoin failed to flip its critical near-term resistance level into support before declining by 9%.Although it still had the support of the 50-day Simple Moving Average, it wasn’t enough to counter the broader marker bearish cues.
However, Shiba Inu’s constant efforts to develop its ecosystem have kept its investors on a leash. Just recently, the blockchain brought on board visualization studio The Third Floor , known for working on Marvel and Star Wars movies, for the design and construction of its Metaverse. Interestingly, investors have not reacted to these developments yet as they are keeping to their regular behavioral patterns.
On-chain transaction volumes have been averaging at $70 million, with some spikes worth $200 million to $400 million.