- The Solana price continued to drop on Wednesday, slipping below the 20-day SMA.
- The current session sees buyers and sellers vying for control, with the price still at $0.000033.
The Shiba Inu price is looking to recover during the current session, as buyers and sellers struggle to control the session. SHIB had started the week on a fairly positive note, rising by over 2% on Monday and settling at $0.000039. The price fell back on Tuesday, dropping by over 10%, falling to $0.000034, before slipping below the 20-day SMA on Wednesday and settling at $0.000033.
Shiba Inu Price Chart Indicates SHIB Could Recover From $0.000033.
The Shiba Inu price was quite bullish at the start of the previous week, rising by 1.46% on Monday. The price continued to push higher on Tuesday, rising by over 5% and settling at $0.000032. SHIB moved past the 20-day SMA on Wednesday, as it registered an increase of nearly 7% and settled at $0.000035. The price remained bullish on Thursday, rising by over 10% and settling at $0.000038, but fell back in the red on Friday, dropping by 6.41% and settling at $0.000036.
Image: SHIB/USDT daily
After dropping to $0.000036 on Friday, the Shiba Inu price recovered over the weekend, rising by over 4% on Saturday and settling at $0.000037. The price continued to push up on Sunday, registering an increase of $1.41% and settling at $0.000038. The current week started in the same vein, as the price rose by 2.22%. However, SHIB fell back in the red on Tuesday, falling by over 10% and settling at $0.000033. A drop of nearly 4% followed on Wednesday, taking the price below the 20-day SMA to $0.000033, with buyers and sellers struggling to control the current session.
We can see that the Parabolic SAR is still bearish, indicating that the price could drop further.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we can see that SHIB faces strong resistance at around $0.000035. At this price level, over 45,000 addresses have sold more than 25,000 billion SHIB.
Looking at the 4-hour Shiba Inu price chart, we can see that SHIB had surged past the 200-bar SMA on the 24th, rising to $0.000039. However, the price fell back from this level, falling back below the 200-bar SMA and settling at $0.00036, where the 20-bar SMA acted as support. As a result, SHIB surged to $0.000038, pushing back above the 200-bar SMA. The price continued to increase, as it moved to $0.000039, but then fell back significantly, slipping below all three SMAs and settling at $0.000034 on the 28th. SHIB registered a marginal increase from this level but then fell again, dropping to its current level of $0.000033.
The MACD and Parabolic SAR are currently bearish, indicating that the price could drop further.
Image: SHIB/USDT 4-hour
SHIB Pushes FTX Down From #1 Spot As Largest Holding Among Top 1,000 Whales
Recent data shared by WhaleStats shows that SHIB has retaken its number one position among the top 1,000 ETH whales' crypto assets by USD value. Before this, FTX did the same with SHIB, but now the meme cryptocurrency has struck back.
According to a recent tweet by WhaleStats, the 1,000 top Ethereum whales held $1,606,812,247 worth of FTX token, making it the top asset by dollar value. However, after WhaleStats' data went through a website update, SHIB returned to the highest position in these whales' wallets.
According to the table, the 1,000 largest Ethereum whales now hold around $1,874,858,000 worth of SHIB. The average amount of these meme tokens stored in their wallets is 52,343,037,616 – 6.64% of all crypto holdings.
As for FTX, its amount equals around $1,589,842,800 in USD (5.63% of all the crypto holdings owned by the whales). The dollar worth of Ethereum held by these wallets is roughly $158,791,856 (with an average amount of Ether held being 41,475 coins).
Still, the most widely held and traded token among these whales is UNI. WhaleStats has also shared that the army of SHIB holders has added a whopping 100,000 new users. Just a few weeks ago, this number hit the milestone of 1 million, and now the figure of the total SHIB owners stands at 1,100,357, according to the tracking project's website.
Shiba Inu Price Is Expected To Reach These Levels
Looking at the Shiba Inu price chart, we see that SHIB has been extremely bearish during the current week. If sellers retain control, we could see the price drop below $0.000030 and fall towards $0.000030.