Shiba Inu (SHIB) price is experiencing a downtrend, with mixed signals contributing to uncertain price movements. Large investors (whales) have reduced their SHIB holdings, leading to decreased influence on SHIB's price.
Despite the decline in whale presence, Bitcoin's impact on SHIB remains strong. The correlation between SHIB and Bitcoin is currently at 0.86, suggesting that SHIB's price may follow Bitcoin's recovery path.
Although the correlation indicates potential growth for SHIB, mixed signals from other indicators may prevent a rise in price. SHIB may consolidate under the resistance of $0.00001473, but breaching this resistance could reinvigorate confidence among holders and lead to a price increase to $0.00001500 or higher.
