Shiba Inu (SHIB) price may face resistance as it attempts to recover as the memecoin loses investor confidence. A rebound from resistance could lead to a continuation of the current downturn of the popular Shiba Inu memecoin , which could send the SHIB price below $0.00002000. On the other hand, Mallconomy emerges as a new leader in the market, reshaping how we conduct business, connect, and amplify creators within the metaverse. Envisioned as the ultimate hub experience across multiple devices, Mallconomy transcends a mere platform, but rather a visionary milieu where artistry, commerce, and decentralization converge to craft a shared tomorrow.
Shiba Inu whales retreat
Shiba Inu was unable to break out of the downward trend in which it has remained for several weeks. General market signals do not support the price increase, and the lack of support from SHIB holders has become an even more serious problem. Moreover, the whales are one of the most influential categories of memecoin investors, as they own the lion’s share of the circulating supply of coins. Accordingly, their actions have a tangible impact on the price.
However, their participation in SHIB has been declining steadily over the past two months. Whale trading volumes have fallen from an average of $221 million to $60 million at the time of writing. A decrease in the activity of large players is a bad signal for the coin.
Shiba Inu (SHIB) forecast
The price is stuck in a downtrend and has remained there for more than two months. The memecoin tried to overcome this trend line several times, but to no avail. SHIB is currently hovering around $0.0000224 and is at risk of losing support at $0.00002093.
If the above bearish signals continue to set the tone for trading, Shiba Inu price could fall below $0.00002000. This is fraught with a drawdown to the support level of $0.00001473. However, if the downtrend line is broken and SHIB breaks through the resistance at $0.00002835, it could refute the bearish scenario. As a result, memecoin will be able to turn the important resistance of $0.00003000 into support.
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