Shiba Inu's recent breakout attempt was unsuccessful as evidenced by its price movements. Analysis of the mean coin age metric indicates that long-term holders began liquidating their positions in August, contributing to the failed breakout.
This distribution by long-term holders could be a sign of caution in the market, affecting SHIB’s chance for a sustained rally.
Understanding these market dynamics is crucial for investors and traders analyzing Shiba Inu's future potential.
