Shiba Inu (SHIB) has experienced a 19% price drop over the past month, presenting a buying opportunity for traders. This has led to increased accumulation by SHIB whales.
An analysis of SHIB’s market value to realized value (MVRV) ratios reveals a buying opportunity, with the metric showing negative values across different moving averages.
According to Santiment’s data, SHIB’s 30-day and 90-day MVRV ratios stand at -1.7 and -24.07, respectively, suggesting undervaluation and leading to increased whale trading activity.
According to IntoTheBlock’s data, there has been a 128% increase in SHIB transactions valued between $100,000 and $1,000,000 over the past month, signaling a potential bullish trend.
Despite increased interest from whales, SHIB remains vulnerable to further decline. Technical analysis shows the Chaikin Money Flow (CMF) likely to dip below zero, indicating market weakness. Additionally, SHIB’s Relative Strength Index (RSI) stands at 43.7, indicating stronger selling pressure.
If negative trends continue, SHIB's price could fall to $0.000010. However, if bullish momentum returns, the price might reach $0.000018.
