The cryptocurrency Shiba Inu has experienced a recent gain of 3.3% while Bitcoin and other altcoins have fallen. However, Shiba Inu has seen significant declines over longer timeframes. Analysts suggest that the coin's price action in the near term will determine whether it rebounds or decreases further. The lack of institutional interest, weak network growth, and lack of profitability for holders are contributing factors to the coin's decline. Shiba Inu's current level will be crucial in determining its short-term direction, with the possibility of a 20% recovery or an 11% decrease. On-chain analysis shows an increase in large transactions, indicating renewed interest from whales, but other indicators suggest bearish momentum. Shiba Inu is currently trading at $0.00001426 with an RSI of 44.91.



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