Shiba Inu: The Gambler’s Last Hope or a Fool’s Paradise? 🐕💰

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Key Takeaways

In the vast and often merciless sea of cryptocurrency, Shiba Inu (SHIB) has been clinging to a solid demand zone, a lifeline for the bulls. Yet, the weekly price chart whispers of a different tale, one where the sellers might just have the upper hand.

Shiba Inu’s [SHIB] price has been treading water above the critical demand zone at $0.000012 since mid-August, a period marked by the quiet but steady accumulation by the whales. Oh, the irony! While the little fish scurry about, the big ones quietly feast on the bounty. 🐟🐳

But that’s not all. The exchange net position change has been negative since August 17th, a classic sign of accumulation-like a thief in the night, the whales have been amassing their treasure. 🗝️💰

The cost basis distribution heatmap, a map of sorts, reveals the densest clusters of SHIB holdings. The $0.000012 area, a veritable fortress, stands as a key demand zone, a place where a significant portion of Shiba Inu has found a home in recent months. Bulls, take note: this is your last bastion of hope. 🛡️🔥

So, can Shiba Inu’s price remain steadfast above $0.000012, or will it succumb to the gravitational pull of the market? Only time will tell, but the bulls must hold this line if they wish to see a rally in the coming weeks. 🏃‍♂️💨

Shiba Inu likely to drop 15% to weekly range lows

The weekly chart, a tome of past and present, reveals that Shiba Inu has been oscillating within a range from $0.0000106 to $0.000016. Within this broader context, a smaller range between $0.000012 and $0.000014 has emerged. Should the $0.000012 support crumble, SHIB is poised to plummet to its weekly range lows. 🌋📉

This is a reality that traders and investors must brace themselves for. The On-Balance Volume (OBV) has made a new low on the weekly charts, a grim omen of seller strength. The Relative Strength Index (RSI) has failed to breach the neutral 50-level, another sign of the bulls’ waning power. 🦁🌊

And finally, the 1-day chart, a daily diary of market sentiment, shows no signs of buyer strength. The descending trendline resistance (white) further cements the dominance of the sellers. 📉🚫

While the $0.000012 area is indeed a critical juncture, as indicated by the cost distribution heatmap, it remains a risky buying opportunity. For those who dare to tread this path, may fortune smile upon you. But beware, for in the world of cryptocurrency, fortune is a fickle mistress. 🍀🔮

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2025-09-06 06:18