Shiba Inu is faced with a persistent downward trend in the last month, preventing the popular meme piece from making important gains. Although there was a notable increase in the new activity of investors, this was not enough to counter the drop in prices in progress.
Shiba Inu’s struggle to free himself from this crisis highlights the challenges he faces in the retirement of the momentum.
Shiba Inu faces the sale
Addresses active with profits currently represent more than 25% of the total of Shiba Inu addresses. These holders, who have seen gains, are more likely to withdraw, resulting in increased sales pressure on the price. This concentration of profitable addresses could weigh heavily on the price if it continues to dominate.
If the behavior of investors moves to detention rather than the sale, Shiba Inu could see a relief of its reduction in continuous prices.
Shiba Inu’s overall mando Momentum improves slightly while the new addresses have started to increase after a month of decline. This increase in new investors means a renewed interest in the memes piece, which could bring a new influx of capital in the asset.
This increase in new investors could help to counterbalance the sales pressure caused by existing lucrative addresses. If this increased trend of interest continues, Shib can be able to create the momentum it needs to exceed the current resistance levels.
The price of the shib must push upwards
At the time of writing this document, the price of Shiba Inu amounts to $ 0.00001127. The play attempted to move away earlier this week but failed, which led to a false escape. The price remains under pressure while Shib tries to navigate a level of resistance at 0.0000001141. This made him vulnerable to additional drops, with the potential of a drop to 0.0000001059.
Currently, Shib is under the resistance of 0.0000001141. If he fails to cross this level and confirm it as a support, it is likely to continue its downward trend, testing lower levels. Another slide at 0.00001059 would only add to the bearish feeling surrounding the room.
If, however, Shiba Inu manages to return the resistance of 0.00001141 in support, it could create a solid base for Altcoin. With the help of new investors, Shib could break the level of 0.00001188 and potentially escape its downward trend. This would invalidate the lower thesis, marking a change towards a more positive perspective for the medal.
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