What to Know
- Shiba Inu network activity increased 216%, adding 1.6 billion SHIB, although the price structure remained weak amid limited buying demand.
- Moving averages between $0.00000500 and $0.00000515 turned support into resistance, while declining momentum and a lower high reinforced bearish conditions.
- SHIB must defend $0.00000480 and reclaim $0.00000500–$0.00000515 before stronger demand can provide convincing evidence of a meaningful sustainable price recovery.
Shiba Inu recorded a 216% increase in network activity, adding another 1.6 billion SHIB to the relevant on-chain metric. Although the increase reflects stronger token movement across the network, SHIB’s price structure remains weak because additional activity has not generated matching buying demand.
The token traded near $0.00000485 following another rejection between $0.00000520 and $0.00000530, keeping sellers positioned around a resistance zone. Previous on-chain activity increases have failed to produce lasting price gains for Shiba Inu, making sustained market demand essential for any recovery.
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Moving Averages Strengthen Resistance Above SHIB
SHIB has fallen below several short-term and medium-term moving averages clustered between $0.00000500 and $0.00000515, transforming former support into overhead resistance. Consequently, buyers must reclaim this technical area before the token can establish a stronger foundation and reduce selling pressure.
Shiba Inu began recovering from $0.00000410 in July before approaching $0.00000620 during August, although the advance could not maintain its momentum. Moreover, September’s rebound stalled near $0.00000550 and formed a lower high compared with August, showing that buyers lacked sufficient strength.
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Source: TradingView
The long-term moving average remains near $0.00000565, above SHIB’s current price, while the Relative Strength Index has fallen below 50. Together, these indicators support the broader bearish structure because SHIB lacks favorable moving-average alignment and a convincing momentum signal.
SHIB Faces Critical Support Near $0.00000480
Support remains around $0.00000480, where buyers must prevent a deeper decline toward the weaker $0.00000460 to $0.00000440 demand area. A decisive breakdown beneath that range could return attention to July’s low near $0.00000410, erasing much of the token’s earlier recovery.
Conversely, SHIB must first recover the $0.00000500 to $0.00000515 cluster before challenging stronger resistance around $0.00000550 and $0.00000565. Holding above those levels would provide better evidence of structural improvement, particularly if rising network activity attracts sustained purchasing pressure.
Shiba Inu’s 216% activity increase and 1.6 billion SHIB addition represent notable on-chain growth, but technical indicators still favor sellers. Without corresponding demand, the network surge provides limited support for appreciation, leaving SHIB dependent on reclaiming key resistance levels.
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