Shiba Inu (SHIB) price is down 5.6% over the past seven days but has recovered 3% in the last 24 hours as it tries to regain momentum. The Relative Strength Index (RSI) remains neutral at 50.9, reflecting a balance between buying and selling pressure, while whale activity has stabilized after its recent decline.
SHIB is trading near critical levels, with the potential to test major resistances if the uptrend strengthens or support areas if selling pressure increases.
The RSI for Shiba Inu has been neutral since December 20:
Shiba Inu RSI is currently at 50.9, maintaining its neutral territory since December 20. This level indicates a balance between buying and selling pressure, with no clear dominance from either side. The stable RSI suggests that SHIB price is consolidating, as traders remain undecided about the next direction.
This neutral reading reflects a lack of significant momentum, leaving the price vulnerable to potential catalysts from external factors or changes in market sentiment.
The Relative Strength Index is a momentum indicator that measures the speed and strength of price movements on a scale of 0 to 100. Readings above 70 indicate overbought conditions, often signaling a potential price pullback, while readings below 30 indicate oversold conditions and a potential recovery.
With the SHIB RSI at 50.9, it sits near the midpoint, indicating neither overbought nor oversold conditions. In the short term, this neutral indicator suggests that SHIB price may continue to trade within a range unless there is a decisive increase in buying or selling activity to push the momentum in a clear direction.
SHIB whale activity stability:
Shiba Inu whales, defined as addresses holding at least 1 billion SHIB, hit a monthly high of 10,930 on December 19 but have been steadily declining since then.
The number of SHIB whale addresses stands at 10,861 and has remained below 10,900 since December 20. This stability follows a period of decline, indicating that large holders are not consolidating or reducing their positions significantly at the moment.
Tracking whale activity is crucial because these large holders often drive market trends due to their ability to execute large trades. Their accumulation can generate bullish momentum, while distribution can lead to selling pressure.
The current stability in SHIB whale numbers indicates a neutral sentiment among mainstream investors.
SHIB Price Prediction: Will the Recovery Continue?
If the current uptrend strengthens, Shiba Inu price is poised to test the resistance at $0.0000225. A break of this level could pave the way for further gains, with the next resistance targets at $0.000024 and $0.000026.
A strong uptrend will indicate increasing bullish momentum, which could attract more buying interest and push SHIB to higher levels.
However, if the uptrend loses momentum and a strong downtrend takes over, SHIB price may test the first support at $0.0000198. If this level fails to hold, the price may drop further to $0.0000185, indicating increased selling pressure.
These key resistance and support levels are likely to determine the path of SHIB in the short term, with traders closely watching whether bullish or bearish forces will prevail.