Shiba Inu (SHIB) Price Forecast: Potential 20% Decline Ahead
Shiba Inu Price Fall Continues
Shiba Inu price is trading at $0.00002542, failing to regain support at $0.00002800 amid overall market negativity caused by Bitcoin's fall.
Investor Inactivity Impact
SHIB investors' inaction and declining network growth indicate weakening market sentiment, leading to potential further downward movement.
New investors are shying away, reflecting a loss of traction in Shiba Inu's popularity.
Short-Term Holder Movement
- A 23 trillion SHIB worth $582 million shifted to short-term holders in 4 days, heightening profit-taking risks and correction probabilities.
SHIB Price Prediction: Probable 20% Pullback
SHIB is likely to dip to $0.00002268, with $0.00002039 acting as a stronger support backed by the 100-day EMA, potentially resulting in a 20% correction or a rebound towards $0.00002835 resistance.
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.