Shiba Inu at Risk? Whale Demand Drops as SHIB Faces Key Support Test!
Shiba Inu's price has remained consolidated within a narrow range of $0.000023 to $0.000025 over the past week. However, a $700 million drop in whale demand now increases the risk of further price declines.
Short-term projections also indicate potential downside risks, as technical indicators point to a pullback toward $0.000023.
The Donchian Channels, based on the 20-day high and low, reveal a tightening price range. SHIB is trading close to the lower boundary at $0.00002326, signaling weakening bullish momentum as sellers test the critical support level.
If $SHIB closes below $0.000023, it could trigger further sell-offs, potentially driving the price down to retest the next support level at $0.000020, which aligns with the lower Donchian threshold observed earlier this month.
