Shiba Inu was initially known as the Dogecoin killer. After experiencing significant rises and becoming the second-largest meme coin in the market, SHIB has maintained its position. Although SHIB had a successful March in terms of volume, it later experienced a deep decline. As SHIB’s volatile price structure continues, attention has turned to investor movements.
Current State of Shiba Inu Investors
Shiba Inu’s price has seen noticeable declines recently, largely due to Bitcoin‘s drop. Consequently, the meme coin fell to one of its lowest levels in recent months. Investors suffered significant losses and missed potential profits.
According to the Global In/Out of the Money (GIOM) indicator, approximately 66.75 trillion SHIB was purchased between $0.00002100 and $0.00002500. If SHIB’s price had not fallen, the supply amount worth $1.38 billion could have turned into a substantial profit.
However, the meme coin fell below the mentioned level in parallel with the market. As of the time of writing, Shiba Inu’s price continues to trade around the $0.00002071 region.
SHIB’s RSI value also dropped to 40.58 during this period, indicating a loss of strength among buyers. When the RSI value falls below 50, buying pressure seems to have given way to selling pressure.
SHIB Price Prediction
Shiba Inu’s value has been trading between $0.00002835 and $0.00002093 for some time. While investors expected SHIB to break out of this range, things did not go as anticipated. SHIB has moved outside the mentioned region and is currently trading at $0.00002065 as of the time of writing.
If SHIB’s price does not reclaim support soon, it could drop further, potentially to $0.00001600 or even $0.00001473. However, if the $0.00002093 support level is reclaimed, the price may start to consolidate again. If this happens, investors might have a new opportunity to profit, and the bearish outlook could disappear.
