Shiba Inu’s Dramatic Plunge: Is It Time to Panic or Just Laugh? 😂

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Oh dear, it seems our beloved Shiba Inu is in a bit of a pickle! 🥒 The price is at risk of a massive drop, and the number of daily active addresses has taken a nosedive, indicating that network activity is about as lively as a sloth on a Sunday. This decline is like a bad hair day for investors, suggesting that confidence in our furry friend is waning. So, what’s next for SHIB? Let’s dive into this drama! 🎢

Shiba Inu Price At Risk as Active Addresses Hit 1-Year Low

Hold onto your hats, folks! The number of daily active Shiba Inu addresses has plummeted to the lowest level in a year. This drop is like a red flag waving in the wind, signaling a bearish price prediction and a serious case of retail demand fading faster than my willpower at a dessert buffet. 🍰

According to the ever-reliable Santiment, the number of daily active addresses was a healthy 13,436 in mid-February. Fast forward to now, and we’re down to a mere 2,948. That’s a staggering 78% drop in less than two months! Talk about a dramatic weight loss program! 💔

Now, let’s get real. The active address count is like a mood ring for the market. When it’s low, it screams bearish sentiment, and we might be looking at a price drop that could see SHIB tumble to as low as $0.0000055 if the bears decide to throw a party. 🐻🎉

But wait, there’s more! The decline in SHIB daily active addresses could also be due to the Total Value Locked (TVL) taking a nosedive. Data from DeFiLlama shows that the layer 2 network has lost nearly three times its TVL since hitting a peak of $6M last December. As network activity fades, Shiba Inu’s price might just follow suit unless some brave buyers swoop in like superheroes. 🦸‍♂️

Shiba Inu Technical Analysis

Currently, Shiba Inu is trading at $0.0000123, with a slight 0.7% gain in the last 24 hours. It’s been a week of sideways moves, and if buying activity doesn’t pick up, SHIB might just be stuck in this range like a bad sitcom rerun. 📺

Shiba Inu is flirting with resistance at the descending trendline on its daily price chart. This is also the middle Bollinger band, and if SHIB can flip this level, we might just see a price push to the upper Bollinger band and a reversal of this bearish trend. Fingers crossed! 🤞

The RSI is sitting at 48, which is about as neutral as a Switzerland postcard. It indicates that neither buying nor selling pressure is particularly high. If Shiba Inu can break above the upper band, we could be in for a bull run that would make even the most seasoned investors do a happy dance! 💃

However, with retail interest fading and network activity dwindling, it’s likely that Shiba Inu’s price will continue to plunge lower. The four-hour chart shows a slight shift, and if the meme coin can break out of resistance at the upper trendline, it might just defy the odds and surge. Let’s keep our paws crossed! 🐾

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2025-04-14 18:13