Shiba Inu Network Activity Rebounds 16% After Decline
- Active Address Recovery: Shiba Inu's active addresses rebounded to 1,986 after a sharp 33% drop, indicating a gradual recovery in user engagement and improving market sentiment over the past four days.
- Market Sentiment Shift: As price stability and reduced volatility emerged, traders began to re-engage with Shiba Inu, suggesting renewed interest in the asset, although price movements remain mixed.
- Cautious Trading Behavior: The earlier decline in active addresses highlighted traders' cautiousness amid market uncertainty, leading to reduced transaction counts; however, users are now gradually returning as market conditions improve.
- Price Volatility Impact: Despite the increase in active addresses, Shiba Inu's price saw a slight decline of 0.81% in the last 24 hours, trading near $0.000005869, indicating that price stability has not yet fully aligned with the recovery in network participation.
Get Real-Time Alerts for Any Crypto Movement
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 |
About SHIB
About the author
