The price of the popular meme coin Shiba Inu (SHIB) shows a stable price over the last three weeks, remaining in a narrow range. Technical analysis indicates the possibility of both a breakout and further decline.
Current SHIB Market Situation
The price of SHIB remains within the range of $0.0000108 to $0.0000122 for more than three weeks. This range indicates a balance of supply and demand, with recent candles clustering near the upper boundary.
Technical Analysis and Scenarios
The relative strength index (RSI) has slightly increased to 48.35, indicating mild bullish divergence; however, this is not sufficient to declare a trend shift. SHIB continues to stay below key resistance levels.
Trader Interest and Activity
Current on-chain metrics also show a calm status. Whale flows are stagnant, and interest in SHIB is diminishing. Without fresh news or significant events, the coin may continue trading in a narrow range.
The price of Shiba Inu (SHIB) does not show clear signs of further growth or decline in the near future. Traders' expectations depend on the appearance of new factors that could change the current dynamics.
