Shiba Inu (SHIB) risks falling another 20% due to lack of investor interest

The popular memecoin Shiba Inu (SHIB) is going through hard times, showing consistently bearish dynamics for several weeks in a row.

Holders of the altcoin do not seem to be particularly optimistic about its price prospects, leaning towards selling instead of saving.

Investors are losing confidence in Shiba Inu

According to data from the analytical platform Santiment, over the past two months, the largest holders of SHIB have noticeably slowed down the rate of accumulation, purchasing tokens for only $328 million. This suggests that whales are gradually losing interest in the asset due to its inexpressive dynamics.

SHIB price forecast: continued decline

Shiba Inu has been moving within a downward channel for a month and a half. A recent attempt to break through its upper boundary was unsuccessful: if the situation repeats, the price of the altcoin will most likely test the bottom of the pattern as support. Thus, the potential drawdown target is at $0.00002039.