SHIB Price Prediction: Can Growing Holders Push Price Toward $0.0000100?

• Shiba Inu is currently trading at $0.0₅7871 with key support holding near $0.0000077 as momentum consolidates.
• SHIB holders rise above 1.54M, signalling continued accumulation.
• A break above $0.0000090 could push SHIB toward $0.0000100 in December.

As the broader cryptocurrency market has remained within a trading range and traders are looking for any potential sign of an uptick in momentum, SHIB has traded sideways. Even while the volatility of altcoins is lower than in recent months, ongoing, steady on-chain transactions continue to keep the market focused on SHIB.

SHIB Holds Key Support as Daily Chart Signals Consolidation

According to the daily TradingView Chart, SHIB has remained above a strong support zone between $0.0000076-$0.0000078. The price remains locked within a downward-trending formation, indicating consolidation rather than a sharp downturn.

Additionally, RSI (14) is at approximately 45, which indicates that SHIB is experiencing a period of low momentum relative to recent price action but is not yet overbought. Low volatility often indicates stabilization periods are about to commence.

OBV volume data backs up this conclusion as well; thus far, OBV volume has been fairly flat throughout the downtrend, indicating that there has not been any strong seller activity during that same time. The divergence between price weakness and steady volume is likely an indicator that the downward momentum is not as compelling going forward

Source: TradingView

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Rising Holder Count Highlights Long-Term Accumulation

According to a tweet containing on-chain data, SHIB’s holders now exceed 1.54 million. The increase in the number of holders typically indicates that long-term investors are accumulating, not short-term speculators, especially during a period of sideways price movement. This can result in decreased selling pressure and help hold prices close to their current level.

December Price Prediction and Outlook

Looking forward to December, the consensus is that SHIB will experience some upward movement, but it will likely recover gradually rather than quickly again. Should SHIB break back above the $0.0000086-$0.0000090 resistance level it could make an attempt at reaching the $0.0000100 psychological target. However, if SHIB were to drop below the $0.0000076 support level, it could weaken bulls’ outlook for SHIB.

Also Read: Shiba Inu (SHIB) Price Struggles: Is a Rally Toward $0.00002370 Possible?