Shiba Inu Sees Surge in User Adoption Amid Market Recovery

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

Should l Buy SHIB?

Surge in Holders: Over the past week, Shiba Inu holders increased by 87.7%, adding 5,653 new wallet addresses, indicating a significant rise in user engagement and renewed market confidence in the token.
Active Trading: Approximately 81 trillion SHIB tokens are currently held across major exchanges, indicating robust buying and selling activity, which supports strong liquidity and potential price increases for Shiba Inu.
Market Sentiment Shift: With retail investors returning and larger holders increasing their exposure, Shiba Inu's user base has expanded rapidly, reflecting growing confidence in risk assets that may drive price appreciation.
Record Daily Additions: On April 21, Shiba Inu saw a spike of 4,958 new holders in a single day, marking the highest daily increase, suggesting a sudden surge in interest likely driven by both retail participation and larger investors.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like SHIB with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for SHIB

Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 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	0.00000497	0.00000535	0.00000571	0.00000609	0.00000645	0.00000683	0.00000719
Fibonacci	0.00000535	0.00000564	0.00000581	0.00000609	0.00000638	0.00000655	0.00000683

About SHIB

SHIB is a decentralized, community-led currency held by millions across the globe. Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries.Shiba Inu coin was created anonymously in August 2020 under the pseudonym 'Ryoshi.' Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin.Since release SHIB now trades on the ecosystem's proprietary DEX, ShibaSwap.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for SHIB?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy SHIB?

Get Started Free