Leading meme coin Shiba Inu ShibI can beeea. Na, fixed price $0.0000125 now. Over the past week, the coin(false) has dropped by almost 10%, dropping from $0.000015 to $0.0000125. This significant price drop coincides with a sharp decline among large institutional investors’ holdings, signaling a weakening of investors’ confidence amid market weakness.
The Ship with market confidence waneing as whale sale offspeed. According to IntoTheBlock, the large holders (whales) in SHIB’sUNDLE have noticeable net half-year drops of 123%, as compared to the 8% price decline. This decline in whales’ net holdings suggests that these large participants are selling a significant portion of their holdings, increasing the supply and pushing up the price. Additionally, this behavior may cause traders to sell off their coins, accelerating the price crash in the short term.
The daily chart shows bearish signals for the coin. On the daily chart, the SHIB relative strength index (RSI) falls to 35.34, indicating bearish momentum. This suggests that the asset is approaching a level of overselling, with buying pressure taking a pause.
The RSI indicator aligns with the bearish assessment. The SHIB RSI continues to decline below 30, indicating weakening buying power, signs of potential for further losses if factors remain unfavorable.
The price analysis suggests mixed signals. While some retail traders may be selling, suggesting a bearish outlook, the chart consistently shows a bearish trend. The pattern of SHIB price nearing a seven-month low suggests continued weakness, but stronger demand could reverse this.
In conclusion, the ongoing decline and changing indicators suggest that while some institutions may be concerned about losses, the majority of holders may hold off on selling. The coin is likely to persistently lose value, but stronger demand could reverse the downward trend. The market sees continued fluctuation, with investors’ confidence in large institutional participants playing a key role in shaping the outcome.
