Shiba Inu Price Rises but Slower Pace Risks 12% Pullback Amid Meme Coin Rally
- Slower Price Growth: Shiba Inu (SHIB) has risen approximately 19% over the past week, lagging behind the broader meme coin market's 23% increase, indicating a potential short-term pullback risk due to its slower rally pace.
- Whale Holdings Decrease: Since January 2, large wallets have reduced their SHIB holdings from 667.22 trillion to 666.6 trillion, a drop of about 620 billion SHIB, suggesting that major holders are trimming positions during the rally rather than increasing exposure.
- Declining Network Activity: The number of active addresses fell from 7,478 on December 31 to around 4,722, a decline of approximately 37%, indicating reduced user participation and suggesting that the price increase lacks new demand support.
- Support Level Analysis: SHIB is currently holding above a strong support level near $0.0000089, and if this level breaks, it could drop to $0.0000078, representing a potential 12% decline, necessitating close monitoring of whale behavior and active addresses to assess future price movements.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB) As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000307 | 0.00000407 | 0.00000524 | 0.00000624 | 0.00000741 | 0.00000841 | 0.00000958 |
| Fibonacci | 0.00000407 | 0.0000049 | 0.00000541 | 0.00000624 | 0.00000707 | 0.00000758 | 0.00000841 |
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