Shiba Inu has flashed a buy signal on the daily chart, indicating that the current downtrend may be nearing its end. The coin has been in a downward trend for nearly three weeks, with SHIB failing to recover the $0.00003 price territory since dropping below it on December 9.
The TD Sequential indicator, which helps traders identify trend exhaustion and reversals, presented a buy signal for Shiba Inu. According to market analyst Ali Martinez, this suggests that the downtrend is weakening and a rebound to $0.000026 or even $0.000029 may be imminent.
Martinez believes that the correction might be close to an end, citing the indicator’s buy signal as evidence. The last time Shiba Inu saw this level was on December 18, when it relinquished it amid an 8.62% price collapse. If the coin can reclaim this level, it could grant bulls enough strength to again eye the $0.00003 psychologically relevant region.
Shiba Inu’s current price is down 10% over the past week and trading at $0.00002326 as of press time. However, data from IntoTheBlock shows that up to 785,900 addresses, representing 55.32% of total holders, are still in profit. The coin would likely face intense resistance on the journey to recover $0.00003, but sustained whale accumulation could help support bullish momentum.
Note: This content is informational and should not be considered financial advice. Readers are encouraged to do thorough research before making any investment decisions.
Source: https://thecryptobasic.com/2024/12/25/shiba-inu-buy-signal-finally-emerges-here-are-shib-addresses-in-profit-at-current-price