Shiba Inu Whale Selling Points to Potential Price Drop
Shiba Inu Whale Holdings
Shiba Inu price could undergo a correction as holders show diminishing support, resulting in substantial selling pressure. Notably, addresses with significant SHIB holdings have been offloading billions in assets, affecting the coin's market outlook.
Shiba Inu Correlation with Bitcoin
SHIB's high correlation with Bitcoin, standing at 0.81, presents challenges amidst Bitcoin's bearish signals. The strong statistical relationship implies a potential bearish weekend for Shiba Inu, given Bitcoin's dominance in the market.
SHIB Price Prediction: Support Challenges
SHIB's struggles to break the downtrend line indicate potential price drops, with failure to hold key support levels risking significant corrections. A breakthrough above $0.00002584 is crucial to turning the bearish trend around for Shiba Inu.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.