- Whale count down to 10,205 from 10,232 in 9 days.
- SHIB trading between $0.000014 support and $0.0000152 resistance.
- EMA flattening suggests paused bullish momentum.
Shiba Inu (SHIB), the Ethereum-based meme coin, has gained 23% over the past month, reflecting broader interest in altcoins amid a relatively stable crypto market.
However, recent metrics show that the coin’s price action has entered a consolidation phase, with SHIB stuck between key support and resistance levels.
Its Relative Strength Index (RSI) has rebounded from oversold conditions but remains neutral, while whale activity continues to taper off.
These signals indicate the market may be undecided on SHIB’s next direction, awaiting a clearer catalyst for a breakout or breakdown.
RSI recovers but remains neutral below 50
Shiba Inu’s RSI, a widely watched momentum indicator, has recovered from a sharp dip.
The metric rose to 47.1 after falling to a low of 31.7 just a day earlier.
This follows a recent decline from a 6-day high of 68.4.
Despite the recovery, SHIB’s RSI remains below the neutral 50 mark, suggesting the token is neither overbought nor oversold.
This stabilisation reflects an indecisive market.
Traders are currently not aggressively buying or selling, and instead appear to be waiting for more direction.
If RSI continues to rise above 50, it could signal building bullish momentum.
Otherwise, the coin may face continued range-bound trading.
Whale count down by 27 holders in nine days
Another significant trend involves Shiba Inu’s whale wallet data.
The number of wallets holding at least 1 billion SHIB has dropped from 10,232 to 10,205 over the past nine days, a small yet telling sign of reduced interest among large holders.
Though the decline may not appear dramatic, it continues a broader pattern of fluctuation and gradual reduction in whale accumulation.
These addresses, which often hold influence over market movements through high-volume trades, seem to be stepping back.
This could reflect reduced long-term conviction, especially given the lack of strong bullish signals in recent sessions.
A resurgence in whale participation would likely be needed to support a more sustained upside move.
In the meantime, the data hints at cautious positioning among high-stake investors.
Price consolidates between $0.000014 and $0.0000152
SHIB is currently trading in a tight range, with support at $0.000014 and resistance at $0.0000152.
The token’s Exponential Moving Averages (EMAs), which previously showed bullish alignment, are now flattening out.
This further indicates the recent pause in directional movement.
If the price fails to hold the $0.0000139 level, it may fall further to $0.0000127 or even $0.0000123. On the flip side, a breakout above $0.0000152 could pave the way toward the next resistance near $0.0000176.
This technical setup highlights a classic consolidation scenario—where traders and investors are looking for signs of either renewed buying pressure or a deeper retracement.
Without a major catalyst or shift in market sentiment, sideways action may persist in the short term.
Mixed short-term sentiment amid long-term uncertainty
In the last 24 hours, SHIB has gained 3.4%, but it remains down 8.5% over the past week. This divergence shows that while some short-term buying is returning, broader price action still points to caution.
Overall, the combination of neutral RSI readings, a narrowing whale base, and flattening EMAs suggests the meme coin may continue to face resistance unless broader market enthusiasm returns or specific events trigger a breakout.
The post Shiba Inu rallies 23%, yet whale exits and RSI trends suggest slowdown appeared first on CoinJournal.
