SHIB News: Potential 21% Price Drop Amid Declining Network Activity

The Shiba Inu (SHIB) community is on edge as the meme cryptocurrency faces a potential 21% price crash due to a significant decline in network activity. After peaking above $0.30 in early December, SHIB has been consolidating and is now teetering near a critical support level of $0.00002093. The Network Value to Transactions (NVT) ratio, a key metric used to assess whether a cryptocurrency is overvalued or undervalued, suggests that SHIB is currently overvalued. This overvaluation could lead to further consolidation or a sharp price drop in the near future. Analysts are closely monitoring the situation, as the declining network activity raises concerns about the sustainability of SHIB's current price levels. Investors are now left wondering whether to hold onto their SHIB tokens or explore other meme cryptocurrencies that might offer better opportunities in the current market climate.

SHIB Price Risks 21% Crash Due to Decreased Network Activity – Which Meme Crypto to Buy Now?

The Shiba Inu community is concerned as the SHIB price faces a potential 21% crash due to declining network activity. After reaching above $0.30 in early December, SHIB has been consolidating and is now hovering near the critical support level of $0.00002093. The Network Value to Transactions (NVT) ratio indicates overvaluation, suggesting further consolidation or a price drop. Analysts are closely monitoring the situation, and investors are considering alternative meme cryptocurrencies.

Shiba Inu Price Gearing Up To Fly After Lows, Here’s The Target

Recent technical analysis suggests that the Shiba Inu price may be preparing for a bullish rally, as the second-largest meme coin shows signs of a recovery from a correction phase. With key support levels established, a crypto analyst has projected a new bullish price target for Shiba Inu (SHIB). The analyst, known as 'Real_CryptoRoy' on TradingView, believes that Shiba Inu is getting 'ready to fly,' highlighting its potential for a significant price recovery to new highs. The first major milestone for 2025 is projected to be a climb above $0.000025, a critical level that would confirm its bullish position. If this price point is reclaimed, it could set the stage for Shiba Inu to retest higher levels, potentially reaching $0.000033 and beyond.

Shiba Inu’s Shibarium Blasts Through Another Huge Milestone

Shiba Inu’s layer-2 scaling solution, Shibarium, has processed over 800 million transactions, with network wallets surpassing two million. The protocol, launched in August 2023, aims to reduce transaction costs, enhance scalability, and improve speed. Recent updates have focused on faster block processing and token burning. Despite SHIB’s recent underperformance, its oversold levels and reduced selling pressure suggest a potential recovery.

Shiba Inu (SHIB) Whale Numbers Fall to Month-Low Amid 21% Weekly Price Drop

Shiba Inu (SHIB) has experienced a significant 21% drop in its price over the past week, coinciding with a decrease in whale activity. The number of large SHIB holders has recently reached a month-low, indicating potential distribution. The future movement of SHIB's price is likely to depend on its ability to hold key support levels or break through resistance to regain bullish momentum. The Relative Strength Index (RSI) for SHIB is currently neutral at 44.9, recovering from an oversold level of 28 on January 13 and briefly reaching 55 earlier today. This suggests a balance between buying and selling pressure, with no strong momentum currently driving the price.