Shiba Inu has been struggling to break through the $0.0000084 per SHIB threshold. Despite a recent surge, each attempt to surpass this level has been met with a sell-off.
The sell-offs have been so severe that 1.453 trillion SHIB tokens were sold on Binance’s spot market in just two days. This is a significant amount of selling pressure, and it is obvious that many investors are concerned about SHIB’s future.
The sell-offs have been so severe that they’ve even caused a staggering 60 trillion SHIB tokens to go underwater. This means that their holders are currently losing money.
Currently, the market is pessimistic about SHIB, making it difficult for the price to increase without a significant shift in sentiment.
The sell wall is expanding, making it harder for the price of SHIB to penetrate it. Investors should pay close attention to the market since it is a troubling indicator when purchasing power is insufficient to counteract selling pressure.