#SHIB،

Shiba Inu (SHIB) price shows signs of exhaustion after 19% weekly gains

Shiba Inu (SHIB) price continues to show high volatility amid mixed technical signals. With a gain of 19.01% in the past seven days, SHIB maintains its position as the second-largest meme coin by market cap, behind only Dogecoin (DOGE).

Technical analysis of the coin points to a complex picture, with the Relative Strength Index (RSI) cooling from overbought levels and a decrease in whale accumulation indicating potential short-term corrections. However, strong exponential moving average (EMA) indicators leave room for significant upside potential, making SHIB’s next price action particularly crucial for traders.

SHIB RSI drops from overbought territory

SHIB’s RSI has dropped from 85 to 51.8, indicating a significant slowdown in buying momentum. When the RSI was at 85, it showed that SHIB was significantly overbought, with buyers controlling the market.

The current RSI of 51.8 indicates a more balanced market, where buying and selling pressures are equal after a period of profit taking by traders.