- Shiba Inu price continues to move sideways despite the recent eToro listing.
- The consolidation parries as ShibaSwap DEX sheds 75% of its total value locked in less than 20 days.
- A breakdown of the range low at $0.00000518 might invalidate the bullish thesis and trigger a 20% descent.
Shiba Inu price seems to be suspended in time as it consolidates between two crucial demand barriers. Typically, previous bounces around these levels have resulted in a bullish reaction, but a breakdown could lead to a steep descent.
A hype-less meme coin
Shiba Inu, like Dogecoin or Baby Doge, is a dog-themed cryptocurrency that is driven mainly by the retail hype. However, the recent events lead to believe that the frenzy or FOMO around SHIB seems to have vanished.
The listing on eToro, an Israeli exchange, failed to prop up the Shiba Inu price, indicating that investors are disinclined to invest in the dog-themed cryptocurrency despite the recent bullish move.
SHIB is live on eToro as $SHIBxM. pic.twitter.com/Kemo6zZHgK
— eToro US (@eToroUS) July 29, 2021
