The price of Shiba Inu (SHIB) has dropped 10% over the past week, but it remains the second largest meme coin in the market, second only to Dogecoin. Although there has been a recent pullback, SHIB's RSI has been steadily rising, indicating a gradual warming of buying interest and a potential change in market sentiment.
Whale activity has stabilized after a brief decline, indicating that both accumulation and selling by large holders have temporarily stalled, which may lead to price consolidation within a certain range in the short term. If SHIB breaks through key resistance levels, it could see an increase of about 29.5%.
Shiba Inu's RSI is currently neutral but is on the rise.
Currently, the RSI value of Shiba Inu is 52.6, a significant increase from 41 two days ago. This indicates a shift in market sentiment, with buying momentum warming up. Although the RSI is currently in a neutral range, indicating that neither buyers nor sellers have an absolute advantage at this time, the upward trend suggests an improvement in SHIB's short-term performance.
RSI is a momentum indicator used to measure the speed and magnitude of price changes, ranging from 0 to 100. Typically, if the RSI exceeds 70, it indicates that the market may be overbought, and prices may pull back; while below 30 suggests oversold conditions, which usually leads to a rebound.
Currently, the RSI of Shiba Inu is 52.6, indicating that it is in a fairly balanced range. If buying continues to increase, SHIB may have further upside potential. However, the RSI also shows that the market lacks a clear direction, so the price may remain stable unless there is strong news or events to drive a breakout.
Recently, SHIB's 'whale' holdings have stabilized after three consecutive days of decline.
From December 14 to December 19, the number of addresses holding at least 1 billion SHIB increased from 10,861 to 10,930, indicating that large holders are increasing their positions.
This growth indicates that large investors have more confidence in SHIB. Since these 'whales' typically have a significant impact on market trends, this accumulation may signal bullish sentiment in the market, potentially providing support for SHIB's price stability or increase.
However, the number of SHIB whale addresses began to decline after peaking at 10,930 on December 19, stabilizing at 10,875 in the last two days. This stability suggests that the accumulation and distribution activities of whales have temporarily stalled, possibly waiting for clearer market signals before making decisions.
In the short term, this suggests that SHIB may experience consolidation, as the lack of whale activity could lead to reduced volatility, thus suppressing the momentum for price increases or decreases.
SHIB Price Prediction: Potential Upside of 29.5%
Currently, SHIB's price is fluctuating within a narrow range, with resistance at $0.000024 and support at $0.00002259; these two levels will determine the boundaries of the price.
If the support level of $0.00002259 is broken, SHIB may face greater downward pressure, with the price potentially dipping to $0.00001985.
Conversely, if SHIB's price can break through the resistance level of $0.000024, it may gain upward momentum and attempt to challenge the next target price of $0.000026.
If SHIB can break through this price range, it may continue to rise to $0.0000298, indicating a potential upside of about 29.5%.