Shiba Inu (SHIB) is currently in a bullish state, firmly supported above all EMA lines. However, the distance between these moving averages is narrow, indicating that the bullish momentum is not particularly strong.
Whale trading activity remains stable, indicating that major shareholders have not significantly increased their holdings and seem to be taking a wait-and-see approach to market trends. If the current upward trend can strengthen, SHIB may challenge higher resistance levels, but if a pullback occurs, key support levels may be tested.
SHIB RSI is currently at a neutral level.
Currently, SHIB's Relative Strength Index (RSI) is at 55.62, down from over 70 a few days ago. This decrease indicates that the strong buying pressure that pushed the price up has weakened, and SHIB has moved out of the overbought zone.
As the RSI declines, the market seems to be stabilizing, and SHIB is gradually returning to normal levels.
The RSI (Relative Strength Index) is an important momentum indicator, mainly used to measure the speed and magnitude of price changes, with values ranging from 0 to 100. It helps us determine whether an asset is overbought (above 70) or oversold (below 30). Currently, SHIB's RSI is 55.62, indicating it is in a relatively neutral zone.
This indicates that the buying and selling pressure is relatively balanced, which may suggest that the price will enter a stable period or pause slightly before the next major fluctuation.
Shiba whales have not accumulated.
Regarding the holdings of large investors, the number of whales holding at least 1 billion SHIB has recently remained around 11,000, with no significant changes.
This stable state shows that there has not been a significant change among large holders. For one of the most well-known meme coins in this market, there has been neither large-scale accumulation nor large-scale selling.
When whales start hoarding, it usually indicates their confidence in future price increases, which could lead to a rise in value. Conversely, if whales begin to sell off, it often puts downward pressure on the price.
Currently, the number of whales remains stable, which may indicate their lack of confidence in the market; after all, they have not purchased more SHIB, seeming to wait for clearer market signals before deciding their next steps.
Regarding SHIB's price prediction, will it break through $0.000020 and rise again?
The EMA line of SHIB currently shows a bullish trend, and the price is above all moving averages, with the short-term EMA positioned above the long-term EMA.
This situation is usually a positive sign, indicating that the recent price trend is upward and supported by momentum traders. SHIB's price has recently risen above $0.000018, and its market capitalization has now surpassed Avalanche.
However, the distance between these EMA lines is not very wide, suggesting that the bullish momentum is not particularly strong. The narrow distance between EMAs shows an upward trend, but lacks the strength seen during strong rebounds.
If the upward trend accelerates, the price of SHIB may test the resistance level of $0.00001959. If this resistance level is successfully broken, the price may rise to $0.00002171, indicating an 18% upside potential. Conversely, if the trend weakens, SHIB may drop to the support level of $0.00001758, or even lower to $0.00001583.
