SHIB Price Dips 1.79% as Bearish Sentiment and Whale Outflows Weigh on Market

SHIB price continues to face downward pressure on August 2 as bearish sentiment dominates the cryptocurrency market. According to CoinStats, the token has declined by 1.3% over the past 24 hours, trading at $0.00001207 at press time [1]. On the hourly chart, SHIB is currently consolidating within a local channel, fluctuating between the key support level of $0.00001195 and resistance at $0.00001227. This pattern indicates a lack of clear momentum and reflects cautious trading behavior among investors [1].

Whale activity has also played a notable role in shaping short-term sentiment. Recent reports highlight a significant 8,866% surge in whale outflows, suggesting possible profit-taking or redistribution of large holdings [3]. However, this has been partially offset by increased whale buying activity, along with ongoing token burns, which some analysts believe could signal a potential recovery [2]. Despite this, the price has dipped again on August 2, falling 1.79% to $0.000012 [2], with CoinDesk reporting a similar 6% decline over the same 24-hour period [5].

From a technical perspective, the RSI indicator stands at 48.5, indicating that SHIB has not yet reached oversold territory and remains in a neutral phase [7]. This suggests that while a short-term rebound is not out of the question, the market is still in a consolidation phase. On the mid-term chart, SHIB remains within the range of yesterday’s price bar, with analysts warning that a failure to reverse the trend could lead to a breakdown toward the $0.00001150 level [1].

Several price prediction models offer varied outlooks for SHIB’s near-term performance. CoinCodex projects a potential price range between $0.00001199 and $0.00001678, with a maximum gain of 41.46% for investors entering at the lower end [6]. Changelly has forecasted a 4.5% increase, projecting a price of $0.0000134 by August 2, 2025 [4]. However, other reports remain skeptical. A recent analysis points to the challenges posed by SHIB’s massive token supply and limited utility, concluding that reaching a $1 price is nearly impossible [8]. Optimistic yet modest forecasts suggest a potential rally to $0.00001350–$0.00001660, representing a maximum gain of around 25% [8].

While some bullish scenarios are conditional—such as a hypothetical 19,306% increase if Bitcoin were to reach $210,000 [1]—these remain speculative and unrelated to SHIB’s performance on August 2. The Shiba Inu team itself has expressed long-term confidence in the token, stating they believe SHIB could eventually reach $0.01, though this remains distant from current market conditions [4].

In the broader market context, SHIB continues to face competition from projects offering more tangible utility. One such project, Unilabs Finance, is gaining attention for its AI-driven portfolio management and on-chain analytics, with its $UNIL token currently in a presale offering [8]. Analysts have highlighted a potential 12,770% upside for $UNIL, drawing attention away from SHIB as investors seek alternatives with stronger fundamentals [8].

Overall, SHIB’s price on August 2 reflects a market in transition, with technical indicators and whale movements providing mixed signals. While some analysts remain cautiously optimistic, the structural challenges facing the token—including its large supply and limited use cases—continue to pose significant headwinds. Investors are advised to monitor both technical and macroeconomic developments as the market remains in a state of uncertainty.

Source:

[1] SHIB Price Prediction for August 2 (https://u.today/shib-price-prediction-for-august-2)

[2] Analyst Predicts Recovery as Whales Purchase 400B SHIB (https://coingape.com/markets/shiba-inu-price-prediction-analyst-predicts-recovery-as-whales-purchase-400b-shib-despite-crashing-price/)

[3] Shiba Inu Price Prediction: SHIB Whale Activity Spikes 8,866% (https://blockchainreporter.net/shiba-inu-price-prediction-shib-whale-activity-spikes-8866-what-else-is-smart-money-buying/)

[4] Shiba Inu Team Says They've Always Believed in SHIB Reaching $0.01 (https://thecryptobasic.com/2025/08/02/shiba-inu-team-says-theyve-always-believed-in-shib-reaching-0-01-but-everything-takes-time/)

[5] Shiba Inu Tanks 6% But 'Inverted Hammer' Offers Hope to Bulls (https://www.coindesk.com/markets/2025/08/01/shiba-inu-slides-6-but-inverted-hammer-offers-hope-to-bulls)

[6] Shiba Inu (SHIB) Price Prediction 2025, 2026-2030 (https://coincodex.com/crypto/shiba-inu/price-prediction/)

[7] Shiba Inu Price Prediction: Is This New Crypto Coin a Threat to SHIB in 2025 (https://cyprus-mail.com/2025/08/02/shiba-inu-price-prediction-is-this-new-crypto-coin-a-threat-to-shib-in-2025)

[8] Shiba Inu Struggles to Reach $1 as Unilabs AI Coin Eyes 12,770% Upside (https://www.ainvest.com/news/shiba-inu-struggles-reach-1-unilabs-ai-coin-eyes-12-770-upside-2508/)