Shiba Inu (SHIB) Dey Look Like E Go Rise 500% With Dat Inverse Head and Shoulders Pattern, But Weak On-Chain And Market Signals Dey Tell Us Make We Dey Careful
Shiba Inu (SHIB) dey show like say e fit turn around go up, as one kind head and shoulders pattern wey dey upside down (IH&S) dey form, and dis one dey catch di attention of crypto traders. Technical analysis talk say if e pass di neckline resistance for $0.000014, SHIB fit shoot go $0.000081, wey be about 500% increase from di current price of $0.00001274. But even with dis good sign, recent on-chain data dey tell us to calm down: whale holdings don drop by 2.8% for di past two months, from 751 trillion go 730 trillion tokens, and SHIB don lose 11.42% for di past week. Shibarium's total value locked (TVL) sef don fall from $7 million go $2.33 million, wey show say users no dey engage much. Important support dey between $0.0000122 and $0.0000125, while resistance dey for $0.00001329, $0.00001368, and $0.00001385. Di Relative Strength Index (RSI) dey show small oversold condition, and trading volume still low. If trading activity no increase or di ecosystem no grow, SHIB's bullish technical setup fit no lead to steady uptrend. Traders suppose watch well for confirm breakout above $0.000014 as e fit cause big price movement.
Neutral
Even as Shiba Inu (SHIB) dey show good sign for bull market with one special inverse head and shoulders pattern, the power of this pattern dey weak because of small small on-chain records and users wey no dey active like before. The way big big holders (whales) dey sell their SHIB and Shibarium's TVL dey fall, plus trade volume wey no too much and price wey just drop, all this dey show say the bullish look might not make price jump up quick quick if no get strong confirm. The technical shape dey give hope if e fit break pass $0.000014, but as market dey now, momentum no too strong and risk dey high. So, the overall effect on SHIB price dey neutral, except if plenty volume or new things happen for the ecosystem.