Shiba Inu Price Forecast: SHIB whale demand dips $700M amid DOGE rally

Price analysis: 

Shiba Inu price opened trading at $0.0000025 on November 19, down 18% from its monthly timeframe peak of $0.000030 recorded on November 13. On-chain data trends show a decline in whale demand for SHIB as investors switched focus towards Dogecoin in recent weeks.

Is Shiba Inu price at risk of further downtrend towards $0.0000020 in the week ahead, or will savvy new entrants capitalize on its undervalued status?

Shiba Inu price rally stalls at $0.0000030 as DOGE advances to 3-year peaks

Despite booking sizeable monthly timeframe gains, Shiba Inu’s price performance has lagged behind its rival memecoins including Dogecoin, PEPE and Solana-hosted BONK.

Dogecoin price was mainly driven by Trump’s confirmation of Elon Musk’s involvement in the incoming administration, the likes of PEPE and BONK have also lifted be recent listings on major exchanges including Robinhood and Coinbase.

Without a similar demand catalyst, SHIB price momentum has waned considerably over the past week, compared to the likes of DOGE, PEPE and BONK.

The chart above show that with Shiba Inu trading at $0.000025, it has gained 46% since the start of November. Meanwhile the DOGEUSD chart highlighted in blue shows Dogecoin price has increased by 150% within the same period.

Shiba Inu whale demand declined $700M over the past week

After weeks of underperformance, SHIB has now stagnated around the $0.000025 level. On-chain data trends suggest this consolidation phase is at risk of further retracement. Since Shiba Inu price retraced from the monthly timeframe peak of $0.000030 on November 13, whale investors have dialed down demand considerably.

In affirmation of this stance, IntoTheBlock’s Whale Transactions metric below monitors the aggregate value of each transaction that exceed $100,000 in value on a given day. This serves as proxy for monitoring real-times changes in whale activity.

The chart above shows that SHIB recorded $784 million worth of whale transactions on November 12, as price rose to a monthly peaks. But since then whales appear to have switched focus towards more profitable memecoins like DOGE and Solana memes.

The latest data shows that Shiba Inu recorded only $84 million worth of whale demand on November 18, reflection a $700 million decline within the last seven days.

When whale reduce demand for an asset during a sector-wide rally it raises bearish concerns for two key reasons.

Firstly, whales often act as liquidity providers, ensuring price stability during high trading activity. A $700 million drop in whale demand for Shiba Inu reflects reduced market confidence, leaving SHIB more vulnerable to sharp price swings.

With SHIB price  currently struggling to hold the $0.000025 support, any sudden sell-offs could intensify downward pressure, potentially testing support at $0.000020.

Secondly, the shift of whale focus toward assets like Dogecoin and Solana memecoins suggests a diversion of capital from Shiba Inu to competing tokens with higher perceived profitability.

Shiba Inu losing market share to its rival memes further reinforces the bearish outlook. If whale transactions fail to rebound, SHIB could struggle to regain bullish momentum, and the consolidation around $0.000025 could effectively devolve into a prolonged downtrend.

Shiba Inu price forecast: $0.0000023 support at risk

Shiba Inu price has consolidate within the $0.000023 – $0.0000025 narrow channel for the past week. However, the $700 million decline in whale demand now puts SHIB at risk of further downswings.

In terms of short-term price projection, SHIB technical indicators are also signaling a potential pull-back towards $0.000023.

The Donchian Channels, calculated using the 20-day high and low, illustrate a tightening price range. SHIB’s price is currently hovering near the lower boundary of the channel, around $0.00002326. This suggests weakening bullish momentum as sellers test the lower end of this critical range.

A close below $0.000023 could trigger additional sell-offs, exposing SHIB to a retest of its next support at $0.000020, which aligns with the lower Donchian threshold from early November.

The Bull-Bear Power (BBP) indicator, which measures the difference between the highest price and a selected moving average, has shown consistent declines. The current BBP reading of 0.000002594 reflects weakening buying pressure, as the bullish force fades relative to bears.

Given the weakening whale demand and bearish technical signals, Shiba Inu appears poised to test the $0.000022 support level in the coming days. If sellers breach this zone, SHIB risks falling further toward $0.000016, a key support level last tested in October.

To reverse the bearish outlook, SHIB would need to reclaim $0.000025 and break above the upper Donchian Channel at $0.00003045. Such a move would reinvigorate bullish momentum and attract renewed interest from large investors. However, with current on-chain and technical data pointing to reduced demand, downside risks dominate in the short term.