Springing 25,2% down over the span of the past 30 days, SHIB has now shed another 6,56% within the last week. It is being checked now by the potential for a bullish upthrust in bid transactions following the past 24 hours” gain of 4,7%.

The current price level of $0,00001487 results from SHIB commanding a total market valuation of $9,24 billion, with a 24-hour trading volume of $111,20 million.

Weaker Whale Activity Signals Alarming Signs

An 79% cutback on whale transactions that goes back to three months discourages big players away from showing any interest in investing. If their support were to fail, it could prolong the SHIB bear market and keep it from ramping up early momentum for the value.

Analyst Javon Marks tells us that SHIB has formed a large inverse head and shoulders pattern on its chart. If this bullish pattern plays out, SHIB could surge 202% to $0,000081, thus a trend reversal.

Key Support and Strong Resistance

Having the aforementioned support zone compromised, SHIB is presently hovering at levels of $0,000011 and $0,000008. The slide below this level might indicate a further downside; backers” reinstatement might produce a breather of buying interest. These next few weeks shall ensure whether or not SHIB could be able to jump back.