Shiba

Shiba Inu

<ul> 
 <li>The price of SHIB has decreased by over 1%.</li> 
 <li>Shiba Inu’s outflow was almost double the inflow.</li> 
</ul> 
Following the recent uptrends in <a href="https://ambcrypto.com/search/shiba+inu" target="_blank" rel="noopener" data-wpel-link="internal">Shiba Inu [SHIB]</a>, there has been a notable decline in the past few days, causing a decrease in the price. How have traders reacted to this change? 
<h4>Shiba Inu resumes decline</h4> 
The analysis of <a href="https://ambcrypto.com/chatgpt-shiba-inu-price-prediction-nov-12/" target="_blank" rel="noopener" data-wpel-link="internal">Shiba Inu</a> on the daily timeframe showed a decline in value over the last three days. The chart showed around an 8% decrease, following around 10 days of upward trends. 
The primary downturn occurred on the 11th of December, resulting in a decline of about 7.8%. Despite a minor recovery of less than 1% on the 12th of December, it experienced a subsequent fall.&nbsp; 
<div id="attachment_358649" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBUSD_2023-12-13_12-14-03.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-358649" decoding="async" class="wp-image-358649 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBUSD_2023-12-13_12-14-03.png" alt="SHIB/USD price trend" width="1491" height="800" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBUSD_2023-12-13_12-14-03.png 1491w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBUSD_2023-12-13_12-14-03-300x161.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBUSD_2023-12-13_12-14-03-1024x549.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBUSD_2023-12-13_12-14-03-768x412.png 768w" sizes="(max-width: 1491px) 100vw, 1491px"></a>
 Source: TradingView
</div> 
As of this writing, SHIB was trading with a decline of over 1.8%. The chart showed that the significant 7% decline on 11 December pushed its Relative Strength Index (RSI) below 60. 
As of press time, the RSI remained below 60, suggesting that it was still in a bullish trend, but with a gradual weakening trend. 
<h4>Exchange flow shows accumulation interest in Shiba Inu</h4> 
An analysis of <a href="https://ambcrypto.com/chatgpt-shiba-inu-price-prediction-33/" target="_blank" rel="noopener" data-wpel-link="internal">Shiba Inu’s</a> exchange flow on Santiment showed a continued accumulation trend despite the recent decline in price. As of this writing, the inflow of SHIB tokens into exchanges was around 26.3 billion. 
 The volume reflected the number of tokens entering exchanges for potential sale.&nbsp; 
<div id="attachment_358650" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.46-13-Dec-2023.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-358650" decoding="async" class="wp-image-358650 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.46-13-Dec-2023.png" alt="Shiba Inu exchange inflow" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.46-13-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.46-13-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.46-13-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.46-13-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.46-13-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.46-13-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div> 
Conversely, the exchange outflow showed a substantial movement of nearly 51 billion SHIB tokens out of exchanges, signifying withdrawals from trading platforms. 
This trend suggested that a growing number of traders are opting to move their tokens off exchanges, possibly in anticipation of future price increases. 
<div id="attachment_358652" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.38-13-Dec-2023.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-358652" decoding="async" class="wp-image-358652 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.38-13-Dec-2023.png" alt="Shiba Inu exchange outflow" width="3840" height="1300" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.38-13-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.38-13-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.38-13-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.38-13-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.38-13-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/SHIBA-INU-SHIB-11.42.38-13-Dec-2023-2048x693.png 2048w" sizes="(max-width: 3840px) 100vw, 3840px"></a>
 Source: Santiment
</div> 
<h4>Positive sentiments decline</h4> 
Following the notable decrease in <a href="https://eng.ambcrypto.com/shiba-inu-sees-massive-moves-will-it-topple-shib-price-predictions/" target="_blank" rel="noopener" data-wpel-link="internal">Shiba Inu’s</a> value on the 7th of December, data from <a href="https://www.coinglass.com/currencies/SHIB" target="_blank" rel="noopener nofollow external noreferrer" data-wpel-link="external">Coinglass</a> showed a subsequent decline in the Funding Rate. Notably, SHIB’s Funding Rate dropped from around 0.05% to about 0.003%. 
Throughout this period, the Funding Rate has consistently remained in positive territory.&nbsp; 
Is your portfolio green? Check out the <a href="https://ambcrypto.com/calculator/shiba-inu-profit-calculator" target="_blank" rel="noopener" data-wpel-link="internal">SHIB Profit Calculator</a> 
As of this writing, the Funding Rate has increased to around 0.01%. The chart suggested that the decline in SHIB’s value has dampened positive sentiments surrounding it. 
However, despite the decline, the overall sentiment remained positive, indicating that traders continue to anticipate a potential rise in the price of SHIB.

Despite SHIB’s price decline, there’s a spot of good news

AMBCrypto

Other articles published on Dec 13, 2023

Bitcoin Price Prediction as BTC Falls 7% in 7 Days – Time to Buy the Dip?

BREAKING NEWS: Fed’s Interest Decision Announced: Reaction of Bitcoin and Global Markets!

DeFi platform Yearn exploits itself, begs for money back | Protos

Top Promising Altcoins That Can Outperform Bitcoin By Year-End

OKX DEX falls to exploit: What about your holdings?

Snapchat+ Introduces AI-Powered Image Enhancement and Generation Features

Join our free newsletter for daily crypto updates!