Shiba Inu Faces Continued Downtrend Amid High Transaction Volume and Selling Pressure
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Shiba Inu is experiencing significant fluctuations due to recent on-chain metrics and price movements. In the last 24 hours, over 1.2 trillion SHIB tokens have been transacted. However, despite the high transaction volume, the cryptocurrency is facing continued selling pressure, contributing to a downtrend in its price.
The significant transaction volume indicates active trading and liquidity, but the overarching selling pressure suggests that investors are offloading their SHIB tokens. This could be due to broader market conditions or specific concerns relating to Shiba Inu.
The continuous downtrend amid the high transaction volume highlights potential uncertainty or loss of confidence among SHIB investors. Monitoring future on-chain metrics and market conditions will be crucial for understanding the cryptocurrency's trajectory.
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