Nearly half of Shiba Inu "breeders" face losses? Where should SHIB go next?

The price trend of Shiba Inu [SHIB] has been disappointing in the past few weeks, with its value further deviating from the support level set previously.

This decline has affected investor sentiment, as evidenced by the narrowing gap between the number of "in-the-money" (profiting from investment) holders and the number of "out-of-the-money" (suffering losses) holders.

As of this writing, SHIB is trading at around $0.000017, slightly up. However, at the end of the last trading day, it was down more than 3%.

In recent days, the price trend of Shiba Inu has been characterized by large declines and small increases.

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Buying opportunity?

In addition, the relative strength index (RSI), a momentum oscillator that measures the speed and change of price movements, indicates that Shiba Inu is in a strong bear trend.

The RSI is slightly below 30, indicating that the asset is oversold.

This state can present a buying opportunity for traders as it often signals a possible reversal or pause in downward momentum.