The cryptocurrency market anticipates significant movement, yet Shiba Inu (SHIB) remains quiet. Current price charts and on-chain data show a frozen scenario where neither bulls nor bears dominate. SHIB trades around $0.0000109 USD, sitting slightly above a critical local support level at $0.0000095 USD. Experts suggest this support level has held multiple times, potentially indicating a base formation.
What’s Happening with SHIB?
Volatility and a lack of volume are notably absent in the market. The RSI indicator lies flat between 37 and 40, indicating no buying or selling pressure. While this setup harbors the potential for recovery if buying pressure resurges, this possibility currently appears low. Additionally, on-chain analyses support this market stagnation. According to CryptoQuant data, exchange inflows and outflows have remained largely unchanged, with exchange reserves posting a mere +0.13% increase. This implies funds are neither moving into wallets nor out of exchanges, largely staying put.
Uncertain Moves in the Market
Netflow data sits at -0.34%, maintaining a nearly neutral stance that signals no significant purchases or sales. No observable whale accumulations, transfers, or liquidations add to the uncertainty. It seems market participants may be waiting for a technical breakout or macro catalyst. In sum, SHIB risks remaining in a low-liquidity environment, moving sideways. Whether a breakout or a drop happens largely depends on volatility returning to the market.
As a result, Shiba Inu’s market is currently caught in a “wait-and-see” position, uncertain about future movements. The continuation of this sideways trend suggests investors are patiently seeking catalysts. Meanwhile, activity in alternative coins and a shift in investor interest could spell a period of missed opportunities for SHIB. If no strong buying catalyst arrives soon, this stagnation could persist, exerting pressure on the price. At this stage, a “wait and see” strategy might be suitable for investors. However, if alternatives show an upward trend, SHIB risks losing its edge.