Shiba Inu (SHIB) shows mixing performance. Memecoin has grown by 23% over the last 30 days and 3.4% over the last 24 hours, but still has a 8.5% down last week. Recent price action suggests a pause in momentum, with SHIB trading within tough ranges and facing resistance close to key levels.
Although indicators like RSI are stable, whale activity indicates a subtle decline in large-scale participants’ participation. These factors refer to the market in standby mode, with Shib being at the key point where new purchases or further debilitating can determine the next move.
Shiba Inu Rsi recovers after recent decline
Shiba Inu’s RSI rose from its low of 31.7 just a day ago, showing rebounds with short-term momentum. This suggests that recent sales pressures may be eased following a sharp pullback from 68.4 six days ago.
Although RSI is below the neutral 50 level, a rapid recovery refers to a potential shift to new purchase interest or integration.
The relative strength index (RSI) measures the speed and change of price movements in the range of 0 to 100. Readings above 70 usually indicate excessive conditions, while values below 30 suggest that an asset can be sold in excess.
With Shiv’s RSI sitting near the center of the range, the assets will not be overheated or undervalued in terms of momentum.
This neutral position can lead to sideways in the short term. Or, if the purchase continues, it could be an attempt to retest recent resistance levels.
The white whale count continues to decrease gradually
The number of whales on Shiva, which holds at least 1 billion shibes, fell from a record of 10,232 nine days ago.
The decline may appear minor, but reflects the variability in large participation and a broader pattern of gradually decreasing.
This subtle change may suggest that some key holders are reducing exposure or gaining benefits during periods of market uncertainty.
Tracking whale activity is important. This is because these addresses can affect prices through massive movements, and in many cases they can show reliability and attention to the asset outlook.
Despite the intermittent increase, the overall trend in the number of shibu whale has been leaning in recent weeks.
This could point to weaken long-term convictions among large holders, and limit the upward momentum unless retail demand or new buyers offset the outflow.
Shiv’s price is a food stall between main support and resistance
Shiba Inu is currently trading within a narrow range, with resistance of $0.0000152 and support at $0.0000139. Its EMA line, which previously showed strong bullish alignment, is now flat.
Prices appear to be integrated as traders wait for a decisive breakout in either direction.
If Shib loses support of $0.0000139, it could open more downside doors towards $0.0000127, or even $0.0000123.
However, if buyers retreat and the tokens regain the momentum seen earlier this month, breakouts above $0.0000152 could turn prices towards the next resistance near 0.0000176.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
