The cryptocurrency market edges lower on Tuesday as Bitcoin and other major cryptocurrencies are underperforming. SHIB, the native token of the Shiba Inu ecosystem, is also down by 1% and is trading at $0.0000065 on Tuesday after breaking out of its consolidation range last week. Derivatives data are capping SHIB’s upside move, with the memecoin’s broader technical structure still supporting further upward rally. Traders are now observing SHIB to see if it can sustain its breakout momentum or extend its correction. Derivatives metrics cap SHIB’s rally Shiba Inu is underperforming on Tuesday after last week’s breakout rally, with derivatives data suggesting traders are becoming increasingly cautious on the meme coin’s short-term outlook.
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