The Shiba Inu (SHIB) cryptocurrency has seen an 8% increase in price over the past seven days, attempting to recover from a 25% decline in the last month. It currently has a market cap of $9.5 billion and is the second-largest meme coin after Dogecoin. However, key indicators show mixed signals, with the relative strength index (RSI) failing to reach overbought levels and the number of SHIB whales declining. The RSI reaching its highest level since January 17 without surpassing 70 suggests strong buying pressure but not overwhelming. The decline in whale holdings indicates weakening confidence among major investors. The EMA lines show a bearish structure but the gap between them narrowing could signal a potential shift in momentum. If SHIB can establish an uptrend, it could test resistance levels at $0.0000172 and potentially reach $0.0000196 or even $0.0000249. However, if bearish momentum strengthens, SHIB could fall towards support levels at $0.0000146 and $0.0000116.



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