Shiba Inu (SHIB) has faced a significant downturn, plunging 53% from its post-election peak of $0.00003343. This steep decline was fueled by two major whale cohorts offloading trillions of SHIB tokens, pushing the memecoin below critical support levels. With over half of SHIB holders now in the red, the market sentiment remains fragile.
#ShibaInu $SHIB is showing signs of a potential rebound as the TD Sequential indicator flashes a buy signal on the weekly chart. pic.twitter.com/llOC004UvG
— Ali (@ali_charts) February 11, 2025
SHIB at a Critical Juncture
SHIB has been trading within a tight range, with strong support at $0.00001550. While the volume has surged 20% from the previous day, indicating some buying activity, the lack of whale support makes a decisive rebound uncertain. The broader memecoin sector has suffered a 7% decline, yet SHIB’s 5% drop appears moderate compared to its counterparts facing double-digit losses.
Despite this, SHIB’s trading volume remains well below the $7 billion highs from its last cycle, reinforcing concerns that a breakout is not imminent. For SHIB to regain upward momentum, increased accumulation is necessary, particularly from large-scale investors.
Is This a Buying Opportunity?
The market remains risk-averse, with many memecoins experiencing near triple-digit monthly losses. However, technical indicators suggest a potential shift. The Relative Strength Index (RSI) has hit extreme lows, and the Moving Average Convergence Divergence (MACD) is flashing bullish signals, hinting at a possible reversal.
A key resistance level looms at $0.00002400. If SHIB can maintain its current support zone and attract renewed buying interest, a breakout may be on the horizon. However, without significant accumulation, SHIB is likely to stay range-bound between $0.00001500 and $0.00001775.
Also Read: Shiba Inu and XRP Holders Hedge Bets with This AI Crypto Forecast to Deliver 30,000% Gains
SHIB’s price action is at a crossroads. While the sell-off has been steep, technical indicators suggest the possibility of a rebound. The question remains: will bulls step in, or will SHIB continue its downward trajectory toward pre-election levels? For traders, this could be the perfect ‘dig the dip’ moment—if momentum shifts in their favor.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
