Shiba Inu Active Addresses Plunge 33% Then Rebound
- Active Address Drop: On April 11, Shiba Inu's active addresses plummeted by nearly one-third, from a weekly peak of 2,568 to 1,707, as reported by CryptoQuant, reflecting investor hesitation amid market turbulence that significantly reduced network participation.
- Rapid Recovery Signs: Following the April 11 low, active addresses rebounded to 1,986 by April 15, marking a nearly 17% increase in just four days, indicating a gradual return of user engagement as market confidence improved.
- Price Recovery Trend: At the time of reporting, Shiba Inu's price was $0.000005959, up 2.36% over the previous 24 hours, aligning with the resurgence of investor activity and renewed interest in the token, suggesting increasing market attention.
- Market Dynamics Reflection: The fluctuations in Shiba Inu's on-chain indicators highlight its sensitivity to overall market trends, especially during short-term price surges, emphasizing the project's appeal among risk-seeking investors and the potential for swift reactions to sentiment shifts.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000503 | 0.00000539 | 0.00000568 | 0.00000604 | 0.00000633 | 0.00000669 | 0.00000698 |
| Fibonacci | 0.00000539 | 0.00000564 | 0.00000579 | 0.00000604 | 0.00000629 | 0.00000644 | 0.00000669 |
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