SHIB remains below the short-term moving average.
The RSI indicates that the selling exhaustion is hanging in the balance.
Shiba Inu [SHIB] is facing a period of strong volatility, with its price retreating from recent highs and on-chain indicators reflecting mixed signals.
Despite the prevailing short-term bearish sentiment, the accumulation by whales and the potential for a bottom formation have emerged as important themes. With this token trading near key support levels, market participants are closely monitoring for signs of a reversal.
MVRV ratio signals decreasing selling pressure.
According to analysis from the Santiment chart, the market value to realized value ratio (MVRV) of Shiba Inu has dropped significantly to -19.43%.
The current levels show that the majority of holders have recently been active at significant losses. History shows that deep negative levels of the MVRV ratio often mark accumulation phases, as holders are less likely to sell at a loss, reducing overall selling pressure.
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Source: Santiment
This trend suggests that SHIB is approaching a local bottom. If the MVRV starts to recover, it may signal an accumulation phase, laying the groundwork for a future price recovery.
Whales dominate as large wallets accumulate.
Analysis of the holder distribution chart shows a steady increase in the balances of large wallets, particularly in wallets holding between 10 billion and 100 billion SHIB.
This type of investor, often referred to as a whale, has been actively accumulating during the price decline of SHIB.
Source: Santiment
Conversely, small wallets holding between 100 million and 1 billion SHIB have remained stable, indicating minimal activity from retail investors. This divergence highlights the confidence of large holders, who are positioning for long-term gains.
Shiba Inu price maintains important support levels.
The price chart analysis from TinTucBitcoin shows Shiba Inu trading at $0.00002149. This level is below the 50-day moving average of $0.00002542 but above the 200-day moving average of $0.00001873.
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This position reflects short-term bearish momentum but still maintains a stable long-term trend.
The current Relative Strength Index (RSI) stands at 36.02, nearing the oversold territory. This suggests that selling pressure may be nearing exhaustion, attracting buyers at discounted price levels.
SHIB has established strong support at $0.00002000, along with its 200-day MA, while immediate resistance is at $0.00002542. If it breaks through resistance, it could ignite bullish momentum.
SHIB Outlook
The convergence of technical and on-chain indicators suggests that Shiba Inu is in an accumulation phase. Decreasing selling pressure, highlighted by the MVRV ratio, indicates limited downside risk, while the accumulation by whales reflects confidence in the long-term potential of SHIB.
Support at $0.00002000 provides a stable foundation, and a breakout above $0.00002542 could signal the start of a recovery.
Although the short-term outlook remains uncertain, these indicators suggest a token that is consolidating and preparing for the next price phase. Traders and investors need to closely monitor changes in whale activity and technical levels to predict SHIB's direction.