Shiba Inu (SHIB) price is currently in a bullish setup, supported by its position above all EMA lines. However, the narrow distance between these moving averages suggests that bullish momentum isn’t particularly strong.

Whale activity has also been stable, indicating a lack of significant accumulation, which shows hesitancy among large holders. If the current uptrend strengthens, SHIB could target higher resistance, but a reversal might test key support levels instead.

SHIB RSI Is Currently Neutral

Shiba Inu’s (SHIB) RSI is currently at 55.62, down from over 70 just a few days ago. This drop shows that the intense buying pressure that drove the price up has cooled off, bringing SHIB out of overbought territory.

With the RSI declining, the market appears to be stabilizing, with SHIB moving away from the overbought zone.

Read more: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

The RSI (Relative Strength Index) is a key momentum indicator that measures the speed and magnitude of price changes, ranging from 0 to 100. It helps determine if an asset is overbought (above 70) or oversold (below 30). With SHIB’s RSI at 55.62, it currently sits in a more neutral zone.

This means that buying and selling pressures are relatively balanced, which could indicate a period of price stability or a pause before the next major move in either direction.

Shiba Inu Whales Are Not Accumulating

The number of whales holding at least 1 billion SHIB tokens has remained steady, hovering around 11,000 over the past few days.

This stability indicates that there hasn’t been a significant movement among large holders — neither major accumulation nor distribution for one of the
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Author: Tiago Amaral