Welcome to Extreme Investor Network, where we provide exclusive insights and analysis on the latest trends in the stock market, trading, and Wall Street. Today, we take a closer look at the Shiba Inu Exchange Order Books chart as of Sept 15, 2024.
According to the chart, SHIB bulls currently have 3.78 trillion SHIB in buy orders, while bears have a staggering 5.46 trillion SHIB for sale. This imbalance indicates significant bearish pressure, with sell orders outweighing buy orders by nearly 45%. In dollar terms, buy orders amount to $52.93 million, compared to $76.5 million for sell orders, resulting in a $23.56 million gap between the two. This shortage of buyer demand could lead to sharp price declines if sellers continue to dominate the market.
In our exclusive forecast, we anticipate SHIB’s price to retest the $0.00012 support level before a potential breakout towards $0.000015. Currently trading at $0.0001365 after a slight 3.78% dip in the last 48 hours, technical indicators suggest a retest of the support level before any major bullish movement. The Bollinger Bands (KC) indicator points to a constricted range between $0.0001241 and $0.0001483, signaling a breakout once volatility increases. However, a breach of the lower band at $0.0001241 could lead to a sharper correction before bulls regroup.
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