$SHIB is building up strength needed for upward move it desperately needs
, seems to be in accumulation mode, according to its price performance in the last 20 days. SHIB has been moving in the narrow rangebound without any attempts to break through.
Without an upward move on the horizon, another plunge of the cryptocurrency market will send Shiba Inu to this year's lows, creating a dangerous dynamic for the meme token that might not recover after yet another bearish move.The modest trading volume suggests that no major trades are being executed by traders due to fears of a downward volatility spike. On Nov. 10, Shiba Inu attempted to break through the local resistance level immediately after the FTX-fueled crash.
More uplifting market conditions and a healthy supply distribution on the network will become a strong fuel for SHIB's performance during the bull market, but foremost, the meme token has to survive the downtrend on the market.XRP's performance in the last few weeks has been quite problematic as the cryptocurrency lost more than 10.8% of its value after a successful breakout from the ascending triangle.
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