Corrections Likely Despite Bullish Price Trend | Airdrop Alert Pro

Shiba Inu(SHIB)’s price has increased by 59.71% in the past 30 days, although its market capitalization has retreated from the $18 billion mark. Despite the decline, SHIB remains the second largest memecoin on the market, behind Dogecoin.

SHIB’s 7-day MVRV is currently -3.79%, indicating that holders have lost an average of approximately 4% over the past week. This suggests that the asset may be undervalued or oversold, and further short-term corrections may occur before the price rebounds.

SHIB 7D MVRV reveals more corrections could be coming soon

Shiba Inu The 7-day MVRV is currently -3.79%, down from 5% a day ago.

This shows that SHIB holders have lost around 4% on average over the past week, suggesting the asset may be undervalued or oversold.

MVRV (Market to Realized Value) measures the difference between an asset’s market value and its realized upper limit. A negative MVRV indicates that the asset may be oversold. While SHIB’s 7D MVRV is negative, historical data shows it tends to rebound after reaching similar levels.

However, it also continued to decline to -4% and even -9% before the price surge occurred. this means Shiba Inu price Further short-term declines are likely ahead of a potential recovery in prices.

Shiba Inu whales do not gather

Hold at least 1 billion addresses SHIB There has been a recent decrease, from 10,860 on December 5 to 10,845 now.

This decline follows a pattern over the past month, as the number of such addresses has been steadily declining since November 8, when it was 11,013.

Tracking these whale addresses is important because they can significantly impact the price of Bitcoin SHIB. A decrease in whale activity could indicate a reduction in buying pressure or potential position allocation, which could put downward pressure on the price.

Given the recent decline in large SHIB holders, this could be a sign that selling pressure is building, which could lead to further price declines if these whales continue to reduce their positions.

SHIB Price Prediction: Will SHIB rebound soon?

this SHIB price The EMA line still shows a bullish trend, with the short-term line above the long-term line.

However, the price is currently below the short-term line, indicating that the trend may be shifting.

If the downtrend strengthens, SHIB price A test of its first support levels at $0.000028 and $0.000026 is likely. If these fail to hold, the price could drop further to $0.000023.

On the other hand, if whale activity increases and MVRV triggers a rebound, SHIB price It is likely to rise and test the resistance at $0.000033, if exceeded, a move towards $0.000035 and $0.000040 is possible.