The price of SHIB has been steadily decreasing, currently trading at about $0.00001646. The sharp drop in whale activity is accompanied by a significant decline in trading volume, further intensifying the bearish sentiment in the market. The absence of substantial buy orders from institutional investors means that SHIB is struggling to find momentum, leaving retail investors to fend for themselves. With the market sentiment looking pessimistic and large-scale participation nearly nonexistent, expectations for a robust price recovery are dwindling.
For SHIB to reverse its downward trend, it would need to overcome key resistance levels at $0.00001769 and $0.00002016. However, given the current state of investor participation and low liquidity, achieving a breakout above these levels seems unlikely. Without a significant catalyst or renewed interest from whales, SHIB may continue to languish, with the overall market remaining unpredictable.
Investors are advised to exercise caution as the SHIB market struggles to regain its footing amid these challenging conditions.