Shiba Inu Price Crash: Wall Street Memes Raises $26M as Alternative

• Shiba Inu ($SHIB) has tanked over 20% in the past week due to bearish investor sentiment.
• Wall Street Memes ($WSM) is providing a viable alternative for investors looking to avoid $SHIB’s price swings.
• Technical indicators suggest that $SHIB’s short-term and medium-term trends have flipped bearish, with weak buying pressure reflected in the Relative Strength Index.

Shiba Inu’s Price Drop

Shiba Inu ($SHIB) has tanked over 20% in the past week as investors grow increasingly bearish on the popular meme coin. Having lost considerable momentum since its high of August 12, $SHIB is struggling to regain bullish traction.

Wall Street Memes Emerge as Alternative

While $SHIB falters, the new meme coin Wall Street Memes ($WSM) is showcasing strength, providing a viable alternative for those looking to avoid Shiba Inu’s price swings.

Technical Indicators Reflect Bearish Momentum

It has been a challenging ten days for $SHIB holders, with the token’s value crashing nearly 30% from its local high. $SHIB has closed in the red in eight of the last nine trading days, marking its worst run since early March. More worryingly for investors, $SHIB’s price has easily bypassed its 20-day and 50-day Exponential Moving Averages (EMAs) to the downside – signaling that short-term and medium-term trends have flipped bearish. The Relative Strength Index reflects weak buying pressure at 40 points.

High Trading Volume Suggests Liquidation

CoinMarketCap data shows that $SHIB trading volume rose 8% in the past day, suggesting many token holders are opting to liquidate their holdings rather than withstand price swings.


Unless $SHIB can reclaim and hold above its moving averages, it will remain difficult for token holders to achieve returns as long as technical indicators persistently signal bearishness against Wall Street Memes’ strong performance