SHIB/USDT is currently down –8.79% on Binance, reflecting a wave of recent profit-taking as investors adjust their positions.
📉 Current Market Snapshot
Today’s drop builds on a larger –19.4% decline over the past month, extending a continued downtrend.
SHIB is trading near $0.0000116–$0.0000120, slightly below both its 50-day and 200-day moving averages.
On-chain data shows 23% of SHIB holders are in profit, down from nearly 75% earlier this year—signaling significant sentiment pressure.
Whale activity reveals large holders are offloading: those holding 10M–100M SHIB have reduced their stakes, indicating reduced confidence among major investors.
💡 Technical & On-Chain Insights
SHIB is failing to reclaim its 50-day EMA and remains in a bearish channel, with the MACD and EMA pointing downward.
The RSI hovers around 39, implying neutral territory but closer to oversold than overbought.
Support appears near $0.0000113–$0.0000120, with immediate resistance around $0.0000128–$0.0000130.
🔮 Next 60 Days Outlook
Mixed analyst forecasts for July suggest a rebound to ~$0.0000128 if market sentiment stabilizes and volume increases.
If broader crypto sentiment improves or if the Shiba ecosystem announces updates (like new burns, Shibarium utilities, or tokenomics enhancements), SHIB could rise toward $0.0000147.
However, weakness below the $0.0000113 support range might open the door to further downside, potentially near $0.0000103.
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🧭 Strategy & Summary
Despite the –8.79% drop, SHIB is forming a base near technical support, and a bounce might unfold if whale selling slows and on‑chain activity picks up.
Trader Tip:
Watch for accumulation signals near $0.0000113–$0.0000120 — strong volume here could suggest a reversal.
A break above $0.0000128 on rising volume might confirm a rally toward $0.0000147.
SHIB remains range-bound but shows early signs of stabilization. Stay alert to ecosystem updates and whale behavior — they may spark meaningful moves in the next 60 days.
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