Shiba Inu (SHIB) price has seen a 10% decline over the past seven days, yet it remains the second-largest meme coin in the market, only trailing Dogecoin. Despite the recent pullback, SHIB’s RSI has been climbing steadily, indicating improving buying momentum and a potential shift in market sentiment.
Whale activity has stabilized after a brief decline, suggesting a pause in both accumulation and distribution, which could lead to short-term price consolidation. As SHIB trades within a defined range, breaking a key resistance could open the door for a 29.5% upside.
Shiba Inu RSI Is Currently Neutral, But Rising
Shiba Inu Relative Strength Index (RSI) currently stands at 52.6, rising significantly from 41 just two days ago. This increase reflects a notable shift in market sentiment, with buying momentum gaining traction after a period of relative weakness.
The RSI now sits in the neutral zone, suggesting that neither buyers nor sellers have overwhelming control. However, the upward movement indicates improving conditions for the SHIB price in the short term.
RSI, a momentum oscillator, measures the speed and magnitude of price changes on a scale from 0 to 100. Values above 70 indicate overbought conditions, which may lead to a price correction, while values below 30 signal oversold conditions, often preceding a rebound.
With Shiba Inu RSI at 52.6, the coin is in a balanced range, offering room for further upward movement if buying pressure continues to build. However, the neutral RSI also implies that the price could stabilize unless a strong catalyst drives momentum in either direction.
SHIB Whales Are Now Stable After Declining for 3 Days
Between December 14 and December 19, the number of addresses holding at least 1 billion SHIB increased from 10,861 to 10,930, signaling notable accumulation among large holders during this period.
This growth suggests increased confidence in SHIB from major investors, or “whales,” who often play a significant role in driving market trends due to the sheer size of their holdings. Such accumulation can indicate bullish sentiment and support price stability or upward momentum.
However, after peaking at 10,930 on December 19, the number of SHIB whale addresses began to decline and has since stabilized at 10,875 over the last two days. This recent stabilization suggests a pause in both accumulation and distribution, indicating that whales may be waiting for clearer market signals before taking further action.
In the short term, this could mean that Shiba Inu price may consolidate, as the absence of significant whale activity could reduce volatility and momentum in either direction.
SHIB Price Prediction: A Potential 29.5% Upside
SHIB price is currently trading within a tight range, with resistance at $0.000024 and support at $0.00002259 defining its immediate boundaries.
If the support at $0.00002259 fails to hold, the second-biggest meme coin in the market could face further downside pressure, potentially dropping to $0.00001985.
Conversely, if SHIB price can break above the $0.000024 resistance, it could gain upward momentum and test the next level at $0.000026.
Should this level be surpassed, the price could continue its climb toward $0.0000298, representing a potential 29.5% upside.
Disclaimer
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