Shiba Inu (SHIB) displays tentative recovery signals as its Relative Strength Index (RSI) rebounds from near-oversold territory, climbing to 47 from 30.18. Despite this improvement, the token’s failure to breach the 51 RSI threshold indicates fragile bullish momentum.
The meme cryptocurrency faces headwinds from diminishing whale confidence, with wallets holding at least 1 billion SHIB declining from 10,259 to 10,231. This reduction suggests weakening support from large-scale investors amid ongoing market uncertainty.
Technically, SHIB maintains crucial support at $0.0000119 but remains constrained by bearish Exponential Moving Average (EMA) alignments signaling persistent downward pressure. A breakdown below this support level could trigger further declines toward $0.0000114.
Potential upside exists if SHIB conquers the $0.0000128 resistance barrier, potentially initiating rallies toward $0.0000136 or $0.0000146. Currently, the token appears trapped between established support and resistance zones, reflecting market indecision.