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Shiba Inu (SHIB) has fallen sharply in the past few months. Since early December 2024, the value of SHIB has fallen by more than 50%. After the second inauguration of US President Donald Trump, the token fell another 30%. Whale activity has clearly cooled, exacerbating the negative sentiment. As SHIB continues to face these challenges, many are wondering what will happen next. Let's take a closer look at SHIB's current market outlook and short-term price expectations.
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Shiba Inu's Market Outlook
Shiba Inu has evolved from a memecoin to a promising utility token. With the launch of the Layer 2 scaling solution Shibarium and the decentralized exchange ShibaSwap, SHIB aims to offer more than just speculation. The total value locked (TVL) of Shibarium recently surpassed $2.3 million, indicating the ecosystem is growing.
Despite these advancements, the interest of both whales and retail investors is waning. Large transactions (over $100,000) by whales and institutional investors have declined significantly. On February 11th, there were 115 such transactions. By February 17th, this number had dropped to only 58. This decline, along with an 88% drop in average transaction size, suggests a loss of confidence.
Medium-Term Price Expectations and Technical Outlook
Technically, SHIB has formed a Double Top pattern. This suggests further downside may be likely. After failing to hold the support around $0.000021, more bearish pressure seems inevitable. SHIB may decline another 25-30% and retest the crucial support at $0.000012 in the short term.
However, SHIB still has hope. If the token can close above the key descending logarithmic trend, it may bounce back to the historical high of $0.000088. Currently, the reduction in whale activity suggests the bearish outlook persists.
