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Shiba Inu Price Prediction for February 23

Munene Timothy by Munene Timothy
February 22, 2025
in Binance Feed, Market
Reading Time: 4 mins read
Shiba Inu Price Prediction for February 23
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  • SHIB’s price is below 50 and 200 day EMAs, signaling a strong downtrend with resistance at $0.00001750.
  • RSI at 36.046 and MACD below zero indicate weak buying interest, suggesting further downside potential.
  • Whale activity down 79%, and fluctuating token burns reflect reduced investor interest, impacting price stability.


Shiba Inu (SHIB) has had a substantial price drop, declining by 2.39% in the past 24 hours. At press time, SHIB was trading at $0.00001522, an 8.78% decrease over the last week. SHIB remains 24.19% lower over the past month, indicating continued selling pressure.

Technical Indicators Show Bearish Sentiment

Technical indicators show a persistent bearish momentum for SHIB. The price is below both the 50 day and 200 day EMAs, confirming a strong downtrend. The 50 day EMA is also below the 200 day EMA, strengthening the negative sentiment. 

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If SHIB fails to break above the 50 day EMA, which is an immediate resistance at $0.00001750, further declines may occur. Support is at $0.00001500, a level where SHIB has been consolidating. 

If this level breaks, the next possible downside target could be $0.00001000. However, a breakout above the 50 day EMA could push SHIB towards the 200 day EMA at $0.00002000, an important psychological resistance level.

RSI and MACD Indicate Weak Buying Interest

The RSI is at 36.046, indicating weak buying momentum. Although it remains above the oversold level of 30, it suggests that further downside movement is possible before a reversal. 

An influential shift in sentiment is needed for a sustained price recovery. The MACD histogram shows diminishing bearish momentum, with shorter bars suggesting a possible shift in market movement. 

However, the MACD line is below the signal line and the zero level, indicating that bearish conditions persist. Without a bullish crossover, SHIB may continue facing selling pressure in the near term.

Whale Activity Declines

According to analyst Ali, whale transactions on the SHIB network have dropped by 79% over the past three months. Historical trends indicate that large transactions often influence price movements, with spikes in whale activity aligning with major price swings.

Whale activity on the #ShibaInu $SHIB network has declined by 79% over the past three months. pic.twitter.com/sKPfZEdvgS

— Ali (@ali_charts) February 22, 2025

Data from Shibburn shows a sharp decline in SHIB token burns, with only 13,822,319 tokens burned in the past 24 hours, a 60.6% drop. Over the past week, however, token burns increased by 120.3% to 128,221,395 SHIB. 

HOURLY SHIB UPDATE$SHIB Price: $0.00001517 (1hr 0.09% ▲ | 24hr -2.01% ▼ )
Market Cap: $8,950,556,583 (-2.02% ▼)
Total Supply: 589,255,439,512,228

TOKENS BURNT
Past 24Hrs: 13,822,319 (-60.6% ▼)
Past 7 Days: 128,221,395 (120.3% ▲)

— Shibburn (@shibburn) February 22, 2025

Reduced whale activity and fluctuating token burns suggest decreased investor interest, impacting price stability. If whale transactions increase, SHIB could see renewed volatility. However, prolonged low activity may indicate continued consolidation around current levels. 

Tags: Price AnalysisShiba Inu (SHIB) News

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