- Shiba Inu’s key demand zone: SHIB has been consolidating above $0.000012, a level supported by strong whale accumulation.
- Accumulation signs: Negative exchange net position change indicates SHIB is being pulled off exchanges.
- Risk of breakdown: If $0.000012 fails, SHIB could drop 15% to the $0.0000106 weekly range lows.
- Bearish indicators: RSI stuck below 50, OBV at new lows, and trendline resistance highlight ongoing selling pressure.
- Buying opportunity? The $0.000012 zone may tempt buyers but remains a risky entry point amid weak market momentum.
Shiba Inu Price Prediction – A Risky Buying Opportunity?
Shiba Inu’s price has been holding above the key demand zone at $0.000012, but cracks are starting to show. This level has acted as strong support since mid-August, thanks in part to whale accumulation. According to recent market data, the exchange net position change has remained negative since August 17, a sign that tokens are being moved off exchanges – often considered bullish.
Shiba Inu’s Key Demand Zone Explained
The cost basis distribution heatmap highlights $0.000012 as a critical accumulation level. Warmer zones on the chart show heavy buying activity, confirming that many SHIB holders entered the market at this price.
Also Read: Shiba Inu Price Prediction: SHIB Holds Key Support as Chainlink Boosts Cross-Chain Utility
For bulls, defending this level is essential. If they succeed, SHIB could rebound toward its upper range levels. However, failure to hold here could spell trouble for short-term traders.
Shiba Inu Likely to Drop 15% If Support Fails
The weekly chart paints a concerning picture. Shiba Inu has been consolidating between $0.0000106 and $0.000016, but sellers appear to have the upper hand:
- OBV (On-Balance Volume): recently dropped to new lows, confirming declining demand.
- RSI (Relative Strength Index): remains below 50, signaling bearish momentum.
- Descending trendline resistance: shows sellers are still dominating daily price action.
If SHIB closes below $0.000012, analysts expect a potential 15% slide toward $0.0000106 – its weekly range low.
Should Traders Buy SHIB at $0.000012?
While $0.000012 offers a tempting buying opportunity, the lack of bullish momentum makes it a high-risk entry point. Traders considering positions should weigh the potential for short-term downside against the possibility of a rebound fueled by whale accumulation.
For investors with a long-term horizon, dips below $0.000012 may even present a chance to accumulate SHIB at a discount. But short-term traders must remain cautious, as technicals currently favor the bears.
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