📣 Shiba Inu Price May Break Out of Consolidation as Investors Return

Shiba Inu (#SHIB ) price has been moving sideways, fluctuating between $0.00001462 and $0.00001271 over the past few weeks. The altcoin has been stuck in this range since early August, looking for bullish cues to break free and rally upward.

With recent shifts in market sentiment and new investor interest, SHIB could be positioned to exit this range and rise, provided certain conditions are met.

🔸 Shiba Inu Sees Demand

Following a relatively bearish April, approximately 2,000 SHIB holders exited the network, reflecting investor uncertainty. It took nearly four months for Shiba Inu’s investor base to return to normal levels. This renewed participation in the SHIB network signals growing confidence among investors, suggesting a shift in sentiment toward a more bullish outlook.

If the market continues to show positive signs, SHIB could be in a position to capitalize on the fresh influx of interest, driving its price higher in the coming weeks.

From a technical standpoint, Shiba Inu’s macro momentum appears to be shifting. The Average Directional Index (ADX), which measures the strength of a trend, is nearing a drop below the critical threshold of 25.0. On the 3-day chart, the ADX has been signaling a weakening downtrend, indicating that the bearish momentum could be fading.

🔸 SHIB Price Prediction: Struggle Ahead

Currently trading at $0.00001333, Shiba Inu’s price has been rangebound between $0.00001462 and $0.00001271 since early August. Previous attempts to escape this range failed due to a lack of bullish momentum, keeping SHIB stuck in its consolidation phase. However, market conditions suggest a potential change in the near term.

If Shiba Inu can capitalize on improving market sentiment, a breach of the $0.00001462 resistance level could propel SHIB toward $0.00001699. While breaking this level could take time, the improving macro momentum and renewed investor confidence offer hope for a future rally.