The post Shiba Inu up 23% but momentum fades appeared on BitcoinEthereumNews.com.

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…

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Filed under: News - @ May 19, 2025 1:27 pm