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Shiba Inu SHIB Price Prediction: Will it drop by 18% due to slowdown in purchasing?

Shiba Inu (SHIB) price is facing bearish issues at the time of writing, which could lead to further declines in the meme.

Investors can counter this, but now their intentions lean more towards selling than accumulation.

Shiba Inu Investors See No Profit

Shiba Inu SHIB price will likely be seen as red candles forming on the daily chart as current investors are not acting too bullish. The MIM coin, dominated by whale holders, is noticing a slowdown in terms of accumulation.

Top whale addresses clearing exchange wallets have added just over 13 trillion SHIB worth around $328 million over the past two months. This suggests that SHIB holders have no incentive to accumulate the token.

Shiba Inu whale outfit.
Shiba Inu whale outfit. Source: Feeling

This could cause SHIB to forgo any payments it receives from the whales in relation to recovery.

Worse still, retail investors are not very optimistic. These investors want to sell their assets, which is observed in the distribution of active addresses via profitability.

Currently, around 21% of investors trading on the network are making profits, which is alarming. This is because, most likely, SHIB Holders Looking to Sell Amidst low prices. Since this would offset their losses, they could sell off their holdings until more favorable market conditions present themselves.

Active Shiba Inu stocks by profitability.
Active Shiba Inu stocks by profitability. source:hasThe block

Therefore, the altcoin will take a hit.

SHIB Price Prediction: Staying in the Lane

It will remain Shiba Inu Price , which has been moving inside the descending channel for a month and a half now, is intact. Indeed, the meme coin recently failed to break the upper trendline.

Additionally, depending on investor behavior and market conditions, the crypto asset will likely decline to retest the lower trendline as support. This places the potential pullback target at $0.00002039.

SHIB/USDT 12-hour chart.
SHIB/USDT 12-hour chart. Source: Commercial view

Read more: Shiba Inu (SHIB) Price Forecast for 2024, 2025, 2026, 2027

However, if SHIB manages to bypass these conditions by bouncing off the support at $0.00002268, it could move back. A breakout of the upper trendline would invalidate the bearish thesis, sending Shiba Inu price towards $0.00002835.

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الأسواق,تحليل الشيبا إينو (SHIB)