Shiba Inu's Strategy After Facing Rejection at $0.000014 Price Mark

Shiba Inu, the popular memecoin, has been experiencing a rough patch in recent weeks, with the bulls seemingly lacking the strength needed for a significant price rally. According to technical analysis, the Relative Strength Index (RSI) on the 12-hour chart is currently below the neutral 50, indicating a potential weakness in the bullish momentum.

The price chart suggests a potential move to the $0.000011-$0.0000115 range, with the mid-point at $0.000013. This range has been a consistent feature on the 12-hour chart for Shiba Inu since February, spanning from $0.00001 to $0.000016.

The A/D indicator on the 4-hour chart lacks a decisive trend, indicating that buyers and sellers are evenly matched. This balance is further reflected in the RSI on the 4-hour chart, which stands at 48.9, suggesting neutral technical indicators.

The current 4-hour chart does not show any overwhelming strength for the bulls or bears. However, a sweep of the $0.000011 liquidity could trigger a bullish reversal for Shiba Inu. This potential buying opportunity is highlighted by CoinGlass's liquidation heatmap, which suggests that the magnetic zone at $0.0000118 is primed for a breakout.

In addition to the technical analysis, there are significant developments in the Shiba Inu ecosystem. Large Shiba Inu token holders, known as "whales," have been accumulating recently. The largest whale cohort added a trillion Shiba Inu tokens to their holdings, according to Santiment data. These "Shiba Inu Whales" are large individual or institutional investors holding significant amounts of SHIB tokens, often referred to as "whales" and "smart money investors" in the Shiba Inu ecosystem.

Despite the ongoing struggles, it's important to note that the information provided in this article does not constitute financial, investment, trading, or other types of advice. The market struggle for gains in August was shared by most memecoins and altcoins, and the future price movements of Shiba Inu remain uncertain.

This article does not provide details about Elon Musk's lawyer leading a $200M Dogecoin treasury firm or Solana bulls targeting $300. Those developments are separate from the current analysis of Shiba Inu's price trend.

The 4-hour chart for Shiba Inu shows two key support/resistance zones at $0.000012 and $0.000014. These zones, along with the potential buying opportunity at $0.0000118, will be crucial to watch in the coming days as the price action unfolds.