Recently, the well-known meme Token Shiba Inu (SHIB) in the Crypto Assets market experienced a drop of 11%, with the current trading price hovering around $0.00001254. However, despite the price decline, market analysis shows some interesting contrasts.



Two key on-chain indicators are showing positive signals, which may indicate that SHIB is likely to experience a price reversal in the short term. First, the weighted sentiment index is showing an upward trend, indicating that investor confidence in SHIB is increasing. According to the latest data from the blockchain data analytics platform Santiment, this indicator has risen to 1.153, reaching a new high for the past week.

This phenomenon of price falling while sentiment improves is referred to as "bullish divergence" in technical analysis. Generally, this divergence is seen as a potential precursor to a reversal, suggesting that some traders may be quietly positioning themselves at lower levels, awaiting the opportunity for a price rebound.

Another key indicator to pay attention to is the Chaikin Money Flow (CMF). From the daily chart of SHIB, although the price is declining, the CMF indicator is steadily rising, forming another bullish divergence. As of the latest data, the CMF index has reached 0.04, indicating that funds are flowing back into this asset.

The CMF indicator measures buying and selling pressure by combining price and volume. When the CMF is positive, it usually indicates that the funds flowing into the market exceed those flowing out. In the current case of SHIB, the positive CMF index occurring simultaneously with a price fall may suggest that some investors are accumulating tokens at lower levels, which is seen as a potential strong market signal.

Although SHIB's price performance has been poor in the short term, the positive signals from these on-chain indicators provide some support for a potential reversal in future prices. However, investors should remain cautious and closely monitor market trends, as the volatility in the Crypto Assets market remains high.
MEME-4.8%
SHIB-1.33%
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ContractHuntervip
· 08-21 09:50
Waiting for a breakthrough in selection
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RiddleMastervip
· 08-21 09:50
Continue to be a slave to data
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DaoTherapyvip
· 08-21 09:48
Lying in ambush for the Rebound
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SellTheBouncevip
· 08-21 09:48
Hoard and wait for the reversal.
View OriginalReply0
blockBoyvip
· 08-21 09:46
The opportunity has come, what are you waiting for?
View OriginalReply0
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