- Shiba Inu (SHIB) faces significant challenges as its price drops to $0.000025, driven by a $700 million decline in whale demand and shifting investor focus toward rival memecoins like Dogecoin.
- With weakening technical indicators and key support levels under threat, SHIB risks further declines unless new catalysts emerge to reignite investor interest.
Shiba Inu (SHIB) has entered a challenging phase, with its price dipping to $0.000025 on November 19, marking an 18% drop from its monthly peak of $0.000030. A sharp decline in whale demand—down $700 million over the past week—has left the token vulnerable, especially as investors pivot to rival memecoins like Dogecoin (DOGE).
Whale Demand Decline Raises Red Flags
SHIB’s price rally, which saw gains of 46% earlier this month, has stalled as large-scale investors significantly reduced activity. On-chain data from November 12 recorded $784 million in whale transactions, but this figure plummeted to $84 million by November 18.
Whale activity often ensures liquidity and price stability. This steep drop signals reduced market confidence, leaving SHIB susceptible to volatile swings. With a key support level at $0.000023 under pressure, any breach could see the price tumble toward $0.000020, a critical threshold last tested in early November.
Rivals Shine While SHIB Stalls
In contrast to SHIB’s stagnation, Dogecoin has seen explosive growth, gaining 150% this month. Catalysts like Elon Musk’s rumored role in the incoming U.S. administration have fueled DOGE’s rally. Similarly, memecoins like PEPE and Solana-hosted BONK have benefited from high-profile exchange listings, drawing investor interest.
The shift of capital toward these alternatives has left Shiba Inu struggling to maintain momentum. Without similar demand drivers, SHIB risks losing further market share, reinforcing a bearish outlook for the short term.
Technical Indicators Point to Further Declines
Technical analysis suggests weakening buying pressure for SHIB. The Donchian Channels reveal a tightening price range near $0.000023, indicating diminishing bullish momentum. Meanwhile, the Bull-Bear Power (BBP) indicator shows declining strength from buyers, further emphasizing bearish dominance.
If SHIB fails to hold its $0.000023 support, it could retrace to $0.000020 or even $0.000016, levels last seen in October. To reverse this trend, SHIB would need to reclaim $0.000025 and break above $0.000030, signaling renewed investor confidence.
Outlook: A Rocky Road Ahead
Shiba Inu’s immediate future hinges on whether whale demand can rebound and technical support levels hold. Without fresh catalysts or significant investor interest, the memecoin risks prolonged consolidation or further declines, as rivals like Dogecoin continue to dominate the spotlight.
