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Shiba Inu falls 16% as selling pressure
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Shiba Inu falls 16% as selling pressure

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  • Shiba Inu (CRYPTO:SHIB) fell 16.13% to $0.0000052 before recovering slightly.
  • Selling volumes exceeded buying across spot and derivatives markets.
  • The bullish trend remains intact unless selling pushes SHIB below $0.000005.

Shiba Inu (CRYPTO:SHIB) fell 16.13% to $0.0000052 after facing heavy selling across crypto markets.

SHIB later recovered to $0.0000053, but remained down 5.4% while trading volume fell 63% to $140 million.

Spot markets recorded 3.8 trillion SHIB in selling volume against 3.4 trillion in buying volume.

Perpetual futures recorded 1.32 trillion SHIB in selling volume against 1.27 trillion in buying volume.

Futures recorded $16.17 million in outflows against $15.34 million in inflows, producing a net outflow of $833,000.

The Directional Movement Index showed weaker upward momentum, while the Relative Strength Index remained on an upward path.

A daily close above $0.000006 would support the bullish structure, while a break below $0.000005 could expose $0.0000047.

At the time of reporting, Shiba Inu price was $0.055525.

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