The cryptocurrency Shiba Inu, which became popular due to memes, is showing signs of declining activity in the market. Significant decreases in transaction volumes have been observed in recent days.
Decline in Transaction Volumes
Only 1 trillion SHIB tokens were transferred in significant transactions over the past day, which is significantly lower than the recent weekly peak of 2.6 trillion. The recent low of 383 billion SHIB on May 1 solidifies the downward trend.
Market Conditions and Investor Sentiment
SHIB is currently trading around $0.00001294 with weak volume and a neutral RSI indicator. 83% of token holders are under water, indicating waning interest among institutional and whale investors.
Shiba Inu's Prospects
Unless a new wave of buying occurs, SHIB risks continuing to drift sideways or downward. A drop toward $0.00001140 is possible if the price cannot hold above the psychological level of $0.000013.
Shiba Inu is at a stage of uncertainty. In the absence of new catalysts and active buying, the situation may worsen.
