Shiba Inu (SHIB) Price Prediction: SHIB Investors Could Begin the Accumulation, Bounceback is Necessary

Shiba Inu's (SHIB) price is noting the potential for recovery since investors, frustrated with losses, could be reinitiating accumulation.

Shiba Inu's (SHIB) price is showing signs of a potential recovery as investors, frustrated with the losses, might be reinitiating accumulation. This could help the meme coin reenter and even break out of the consolidation zone it has been trading within for months.

Shiba Inu Investors Could Begin Accumulation Again

Shiba Inu's price might see another wave of accumulation as the drawdown has brought the meme coin to a point where buying appears profitable, according to the Market Value to Realized Value (MVRV) ratio.

The MVRV ratio assesses investor profit and loss. At the moment, Shiba Inu's 30-day MVRV stands at -17%, highlighting losses that may be triggering buying pressure. Historically, SHIB MVRV between -8% and -18% has tended to mark the beginning of recoveries and rallies, presenting an opportunity zone for accumulation.

This is a probable outcome considering the billions of dollars in profits that are currently "in the red" for SHIB investors. According to the Global In/Out of the Money (GIOM) indicator, around 425 trillion SHIB, valued at over $7.3 billion, are awaiting a trigger.

This supply was bought between $0.00001700 and $0.00001900, indicating that a large price movement is needed before it becomes profitable again, which will keep investors motivated to accumulate.

SHIB Price Prediction: Bounceback Is Crucial

Shiba Inu's price, trading at $0.00001696, is enduring the bearish cues of the nearly 40% drawdown observed throughout June. As the meme coin fell out of the consolidation zone between $0.00002584 and $0.00002267, it created space for losses.

SHIB investors are aiming to recover those gains and are likely acting accordingly. With their help, the meme coin could climb back into consolidation, potentially even breaking through the upper boundary.

However, if the barrier at $0.00002093 fails, the same consolidation could occur between this resistance level and the support of $0.00001473, invalidating the bullish thesis.

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