SHIB Charts Show a Possible 20% Bounce, Yet Caution Remains as Major Holders Exit and Short Positions Dominate

Despite the bearish sentiment, SHIB charts show a possible 20% bounce, yet caution remains as major holders exit and short positions dominate.

Shiba Inu (SHIB) is showing small signs of life as it trades above the upper boundary of a descending channel on the LINK chart. A small 2.3% increase in price and a 15% surge in volume over 24 hours might not seem like much, but it could signal a potential 20% rally to $0.00000152 if the resistance breaks.

However, if SHIB fails to hold onto these levels, we could see a 14% slide from here. Traders are keeping a close eye on any movements up or down as they tend to happen quickly.

Dogecoin (DOGE) couldn’t break through the $0.1680 level earlier this week, leading to a nearly 7% drop in price. Currently, the coin is trading at around $0.1550.

All eyes are on the $0.1500 mark, which may decide whether the trend continues to weaken. If the price falls below this level, it could open the door for a decrease to $0.1400 or even $0.1350.

The indicators aren't presenting any positivity. On the 1-hour chart, the MACD is displaying strong red bars, while the RSI is still below 50, indicating further potential for downside.

Additionally, a bearish flag is forming on the 4-hour chart, which suggests that we can expect to see more losses unless Dogecoin manages to recover quickly.

However, if the coin breaks through the $0.1600 zone with sufficient volume, it could experience a rally to $0.1700. For now, it's best to approach with caution as the next few trading sessions may determine the direction of Dogecoin's price.

But if you're looking for a crypto news story with a truly interesting angle, we recommend checking out our report on Cold Wallet, which is offering a unique take on privacy in the crypto space.

While most options are either too complicated or leave out crucial aspects of privacy, Cold Wallet is aiming to change that by eliminating seed phrases and metadata risks, enabling users to maintain complete control without any technical hassles.

This means no more possibilities of losing your seed phrase or having your data exposed. In the backend, the technology utilizes zero-knowledge cryptography to conceal your wallet activity, balances, and transactions without requiring any action on your part.

Moreover, the wallet is designed to be accessible to both privacy pros and newcomers who desire a simple introduction to advanced protection. Currently, Cold Wallet is in stage 5 of its presale, available at $0.00758.

With a targeted listing around $0.3517, those who join early can expect an estimated ROI of 4,900%. Most wallets force a trade-off between ease of use and security, but Cold Wallet delivers both, making it a real solution for what Web3 demands.

Early buyers gain front-row access to a tool that's already changing the fabric of privacy in crypto.