Shiba Inu's (SHIB) price is on a tentative recovery, having dropped 5.6% over the past week but rebounding 3% in the last 24 hours. This upturn suggests an attempt to regain momentum, although its Relative Strength Index (RSI) remains neutral at 50.9, indicating balanced market pressures. Meanwhile, whale activity has stabilized, following a previous decline.
Currently, SHIB is trading near critical thresholds. Its potential to break key resistance levels hinges on the uptrend's strength, while increased selling could test support zones.
The RSI for Shiba Inu sits at a neutral 50.9, maintaining this balance since December 20. This reading implies equilibrium between buying and selling forces. The RSI's steadiness suggests consolidation as traders grapple with uncertainty over SHIB's next direction. This absence of clear momentum leaves the price susceptible to external influences or shifts in market sentiment.
As an indicator of momentum, RSI gauges the velocity and magnitude of price shifts from 0 to 100. Readings above 70 suggest overbought conditions, hinting at a pullback, while scores below 30 denote oversold conditions with recovery potential. SHIB's neutral RSI of 50.9 suggests that, in the short term, its price might range unless decisive buying or selling emerges to drive momentum clearly.
Shiba Inu whales—addresses holding a minimum of 1 billion SHIB—peaked at 10,930 on December 19 but have gradually decreased to 10,861 since December 20. This leveling off comes after a decline, indicating these major holders are neither accumulating aggressively nor reducing their positions significantly now. Such whale activity is critical, as these large holders often shape market trends through significant trades. Their accumulation can inspire upward momentum, while their distribution may cause selling pressure. The current stability in whale numbers signals a neutral outlook among key investors.
Should the uptrend gain traction, SHIB's price might challenge resistance at $0.0000225. Surpassing this threshold could facilitate additional gains, with further resistance at $0.000024 and $0.000026. A robust uptrend would indicate bolstered bullish momentum, potentially luring more buyers and driving SHIB's price higher.
However, if bullish momentum wanes and a strong downtrend emerges, SHIB might test support at $0.0000198, which, if breached, could lead to further declines toward $0.0000185, signaling heightened selling pressure. These resistance and support levels are vital for defining SHIB's short-term path, as traders monitor whether bullish or bearish dynamics dominate.