Summary
TLDR: The Shiba Inu (SHIB) price is expected to continue falling due to lack of support from investors and new addresses being created. There is potential for a 20% plunge on the daily chart, but if the price bounces back from a crucial support level, it could recover.
Key Points
1. The Shiba Inu (SHIB) price downtrend is expected to extend beyond the current 30% as the meme coin is losing the backup it had gained over the past few weeks.
2. SHIB investors are likely going to extend this decline not by doing something but by actually not doing anything. The minimal activity from Shiba Inu holders is a crucial reason for the lack of support for price action.
3. A chunk of the supply just moved into the hands of short-term holders, increasing the potential of corrections due to profit-taking.