Shiba Inu's price-volume divergence is not good sign, but things may change quickly
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Historically, price-volume divergence can be a precursor to a market correction as it suggests the movement is not backed by strong buying pressure. . Despite the remarkable 19,000% surge in token burn volume reported recently — a first in several months, which usually indicates a reduction in supply that could lead to a price increase — Shiba Inu has not translated this into significant price performance.
Investors and traders of SHIB should closely monitor these developments. The price-volume divergence, in combination with the token burn surge and the resistance faced at the 200 EMA, lays out a scenario where any bullish news could be quickly counteracted by a broader market downturn or a lack of follow-through in buying pressure.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.
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