🐶🐕 Market Analyst Says #ShibaInus : The 2nd Leg Is Coming With A Likely 409% Increase To 0.000125 USD

Shiba Inu ($SHIB ) finds itself facing downward pressure as investors appear more interested in selling than accumulating, signaling further downside potential for the meme coin.

The current#marketsentimentis reflected in the formation of red candles on SHIB's daily chart, indicating a lack of bullish activity by investors. Notably, the dominance of whale holders in the SHIB ecosystem has led to a slowdown in token accumulation.

Over the past two months, top whale addresses have withdrawn about 13 trillion SHIB, or about 328 million USD. This trend suggests a lack of incentive for SHIB holders to accumulate tokens, potentially hindering any recovery efforts supported by whale activity. 🐳🐳🐳.

Along with the bearish outlook, retail investors appear hesitant to adopt an optimistic stance. Analysis of active addresses shows that only about 21% of investors making transactions on the network are currently making a profit.

This trend suggests that many SHIB holders may be inclined to sell their holdings amid falling prices to minimize losses, further contributing to downward price pressure.

Looking ahead, the price trajectory of the Shiba Inu is expected to remain within the descending channel that has existed for the past month and a half. Failure to break the upper trendline would strengthen this pattern, suggesting a retest of the lower trendline as support. In this scenario, SHIB's price could target a drop to around 0.00002039 USD.

However, a recovery is possible if SHIB manages to bounce off the support at $0.00002268. A break above the above trendline would invalidate the bearish outlook, potentially pushing Shiba Inu's price towards $0.00002835.