SHIB Price Down 21% In One Week as Whale Numbers Shrink
Shiba Inu(SHIB) price has fallen by 21% in the past 30 days, and trading volume has dropped by 16% in the past 24 hours, currently sitting at $386 million. Technical indicators show mixed signals, relative strength index Recovering from oversold levels but remaining neutral, indicating a lack of strong momentum.
Additionally, whale activity has decreased, with the number of large holders recently hitting a one-month low, indicating potential allocations. SHIB’s next move may depend on whether it holds key support or breaks through resistance to regain bullish momentum.
SHIB RSI is currently neutral
Shiba Inu The RSI is at 44.9, recovering from the oversold level of 28 on January 13 and briefly touching 55 earlier today. This neutral to slightly bearish reading suggests a balance between buying and selling pressure, with no strong momentum moving the price at the moment.
The RSI, or Relative Strength Index, measures price momentum on a scale from 0 to 100, with values below 30 indicating oversold conditions and above 70 indicating overbought levels.
44.9 hours, SHIB The RSI indicates consolidation or mild bearish pressure. Further upside would require the RSI to break above 50 to signal stronger bullish momentum.
Shiba Inu whales do not gather
There are at least 1 billion whales SHIB The stock has fallen from a one-month high of 10,930 on December 19 to 10,832 today, following a low of 10,831 two days ago.
This steady decline suggests less accumulation by large shareholders, which may indicate weakening confidence or declining interest among major market players.
Tracking whale activity is crucial as these large holders can significantly influence price trends and liquidity. Current declines in whale numbers highlight potential distribution patterns that could put downward pressure on whales SHIB price Unless new accumulation occurs to offset the trend.
However, stability near recent lows may indicate that the sell-off has slowed, providing a potential basis for a recovery.
SHIB Price Forecast: Further 11.9% drop?
price chart display SHIB Near support is $0.0000205, a break of which could lead to a drop to $0.0000185, a potential 11.9% correction.
On the contrary, if an upward trend occurs, SHIB price A test of the $0.000022 resistance is likely, and if broken, a move towards $0.000024 will follow.
A strong uptrend may even push Shiba Inu price A return to levels near $0.0000298 signals a significant recovery and renewed bullish momentum.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
