Introduction
Shiba Inu (SHIB) has been on a bumpy ride lately. Over 2.3 trillion SHIB tokens were taken off exchanges, and its price dropped by 5.67% in just 24 hours. Even though SHIB tried to break out of its downward trend, it’s still trading sideways for now. At the time of writing, SHIB’s price was $0.00002190, down from a recent high of $0.0000249. The big question is, can SHIB bounce back and go higher as buyers step in?
What’s Happening with Shiba Inu’s Price?
SHIB’s price charts show signs that things might be turning around. Analysts found that buying pressure is getting stronger, which could push the price up soon. A key indicator called the MACD showed a “bullish crossover” 48 hours ago, signaling that buyers might be taking over from sellers. Another indicator, the RVGI, also confirmed this trend in the past 24 hours. Together, these signals show that SHIB’s downward momentum is weakening, and buyers might have a chance to take control.
Massive Outflows and Whale Activity For Shiba Inu
One of the biggest moves in the last 24 hours was a huge outflow of SHIB tokens from exchanges. Over 2.3 trillion tokens were moved off exchanges. Usually, this means investors are taking their tokens to private wallets for long-term holding, which is a sign of confidence in the market. Additionally, activity among big investors, called “whales,” has jumped by 107%. When whales start buying, it often means they believe the price will go up. This could be a sign that something positive is brewing for SHIB.
Investors Regaining Confidence
Another good sign is the change in SHIB’s MVRV Ratio. This ratio measures how much profit or loss investors are making. Recently, the MVRV Ratio moved out of negative territory, meaning fewer investors are losing money. This change often happens at the end of a price drop or at the beginning of a price recovery.
What’s Next for Shiba Inu?
If SHIB can keep up this momentum, it might rise to $0.000025, which is a key resistance level. However, if buyers lose control, the price could fall to $0.000020. The next few days are crucial to see if SHIB can recover or stay stuck in this range.
VR Soldiers’ Thoughts
From the VR Soldiers’ viewpoint, the large outflows and increased whale activity are encouraging signs for Shiba Inu. Big investors pulling tokens off exchanges usually shows they’re preparing for a price recovery. The technical signals, like the MACD and RVGI, also suggest that SHIB might be ready to reverse its downtrend. However, it’s essential for buyers to maintain their momentum and break through key resistance levels like $0.000025. If that doesn’t happen, SHIB could drop back to $0.000020. The market is unpredictable, so investors should stay cautious and watch for more changes. As always, this is not financial advice, but the trends are worth keeping an eye on!
