🔹Shiba Inu (SHIB) price is down 🔻21% over the past 30 days, with trading volume down 16% in the last 24 hours, now at $386 million. Technical indicators are showing mixed signals, with the RSI recovering from oversold levels but remaining neutral, indicating a lack of strong momentum.
Additionally, whale activity has been on the decline, with the number of large holders recently hitting a monthly low, indicating a potential distribution. SHIB’s next move will likely depend on whether it holds its key support or breaks through resistance levels to regain upward momentum.
📈SHIB's RSI is currently neutral:
Shiba Inu RSI is at 44.9, recovering from an oversold level of 28 on January 13 and briefly reaching 55 earlier today. This neutral to slightly bearish reading suggests a balance between buying and selling pressure, with no strong momentum currently driving the price.
The Relative Strength Index, or RSI, measures price momentum on a scale of 0 to 100, with values below 30 indicating oversold conditions and above 70 indicating overbought levels.
At 44.9, the SHIB RSI is indicating consolidation or slight bearish pressure. Further upward movement requires the RSI to break above 50 to indicate stronger bullish momentum.
Whales in Shiba Inu do not copulate:
The number of whales holding at least 1 billion SHIB has dropped from a monthly high of 10,930 on December 19 to 10,832 today, after falling to 10,831 two days ago.
This continued decline indicates reduced accumulation by large holders, which may indicate weak confidence or declining interest among major market participants.
Tracking whale activity is crucial because these large holders can have a significant impact on price trends and liquidity. The current decline in whale numbers highlights potential distribution, which could put downward pressure on SHIP price unless new accumulation occurs to counterbalance the trend.
However, stability near recent lows may indicate that selling has slowed, providing a potential basis for a recovery.
🔖SHIB Price Prediction: Further 11.9% Drop?
🖍️The price chart shows that Shape has nearby support at $0.0000205, which if broken, could lead to a drop to $0.0000185, representing a potential 11.9% correction.
Conversely, if an uptrend occurs, the price of Shipp can test the resistance at $0.000022 and if it is surpassed, move towards $0.000024.
A strong uptrend could even push Shiba Inu price back to levels near 0.0000298, indicating a significant recovery and renewed bullish momentum.