Shiba Inu (SHIB) has recently experienced a noticeable decline of 12.34% over the past month, reaching a two-week low that has left many investors pondering the future of this popular memecoin.

The price of SHIB faced resistance at the critical level of $0.000015, leading to a sustained downward trend following a failure to break out of a descending triangle. Over the last four days, the digital asset fell from a peak of $0.0000156 to hit a low of $0.000012, showcasing the volatility that often characterizes the crypto market. As of the latest update, Shiba Inu is trading at approximately $0.00001217, reflecting a daily decline of 4.02%, and a bear wave evident on both weekly and monthly charts with losses of 7.4% and 12.34%, respectively.

This decrease indicates strong downward momentum as seen by the Stochastic Relative Strength Index (Stoch RSI), which showed a bearish crossover four days ago and plummeted from 100 to 4.23. Despite this bearish trend, there is a silver lining. Investors are seizing the opportunity to buy the dip, hinting at an eagerness to recover past losses.

Recent analyses suggest a burgeoning accumulation phase for Shiba Inu, with retail buyers and heavyweight investors, commonly known as whales, stepping up their buying efforts. Data from Delta and market order imbalances show a notable increase in buy orders, pointing to aggressive purchases that could signal a potential turnaround for SHIB.

According to AMBCrypto, the recent trading activity has revealed that spot netflow has turned negative, dropping to -$2.06 million in just one day—down from $3.7 million. This sharp decline implies that Shiba Inu exchanges are witnessing more withdrawals than deposits, indicative of intense accumulation and growing investor confidence.

Whales, in particular, have played a significant role in this upswing. They've added 317.63 billion SHIB tokens to their holdings—an impressive increase from 148.6 billion the previous day. Meanwhile, these large holders are not offloading their investments, maintaining outflows at a low of 110 billion, resulting in a net inflow of 206.9 billion SHIB. This active accumulation from both retail and institutional investors paints a bullish picture, as market participants seem to expect an upward price trajectory in the near future.

If the current buying momentum continues, Shiba Inu could set its sights on reclaiming the formidable resistance level at $0.000015. However, it’s vital to remain cautious. Should buying pressure diminish, SHIB could potentially fall further, with the next support target hovering around $0.0000108.

In this unpredictable landscape of cryptocurrency, the market sentiment for Shiba Inu remains hopeful, as investors brace for the possibility of a rebound. Will SHIB rise to the occasion, or will it succumb to further pressures? Only time will tell. Stay tuned for the latest updates on this memecoin phenomenon!