Recent 30% drop in Shiba Inu's network activity raises questions among investors about the state of the ecosystem and potential price effects.
Current State of Shiba Inu
Network activity in Shiba Inu has significantly decreased, accompanied by investor outflow. Concurrently, there has been a price recovery after reaching the 200 EMA, a crucial support level.
Challenges and Opportunities
Approaching resistance levels around $0.000025 and $0.000027 may slow down SHIB's recovery, especially given the current trading range near $0.000023. The 30% decline in activity indicates waning interest and lack of new funding for the project.
Potential Development Scenarios
Despite concerns, technical indicators show potential interest returning: increased volume and recovery from the 200 EMA. SHIB may regain bullish momentum if it can surpass current resistance levels. Otherwise, a retest of the $0.000020 level may occur.
Until Shiba Inu attracts new investment and boosts activity, the token's future remains uncertain, with possibilities of consolidation or decline.
