Shiba Inu’s active address crashed over 50% in three months, offering a bearish outlook for Top Meme Coin. This development is also consistent with Siv price crash During this period.
Shiba Inu’s active address crashes above 50%
Santiment data Shiba Inu’s active address peaked at around 7,800 on May 2, indicating that it crashed more than 50%. Since then, the metric has been on a downtrend, dropping to 2,500 at the beginning of June. Now the number of Active sive address Currently, it averages 3,000.
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The decline in active addresses for Shiba Inu has followed a crash in SHIB prices. In particular, Meme Coin peaked at around $0.17 in May and has been in a downtrend ever since. COINMARKETCAP data This shows that Shiba Inu is over 10% from its three-month height in May. The decline of Shiv occurred despite bullish sentiment in the broader crypto market.
During this period, Bitcoin and Ethereum gathered at the new all-time high (As). However, SHIB prices have suffered poor performance despite positive correlation with flagship crypto assets. meanwhile, Shiba Inu’s network growth I also draw a bearish picture of meme coins. Santiment data shows that this metric has been in a downtrend since it peaked in July.
At the time, the network’s growth reached 2,309 in relation to the number of new users adopting Shiba Inu. Since then, the network’s growth has been spiraling down, falling about 1,078 on September 1st. However, the positive price is Number of owners It increased during this period.
Santimento data shows that the total number of SHIB holders has increased over the past three months to reach 1.53 million. This suggests that investors continue to believe The trajectory of Siv Pricedespite poor performance so far. Memecoin has been below 43% or more (YTD) since the start of the year.
Shiv Prices check bullish patterns
From a technical analysis perspective, Crypto analyst Javon Marks It also offers Shiba Inu’s bullish outlook. in xPosthe said that the price of SHIB confirmed a bullish pattern of normal bull divergence, as shown in the MACD histogram.
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Marks explained that this suggests that a major bull reversal back to the top could be on the horizon. This includes the range of $0.00003 from more than 163% of meetings. Analysts claim it’s just a start. As Shibu Price It continues to breakouts across the old structure, predicting that Memecoin will be able to record rallies of over 570% on a breakout target of $0.000081.
At the time of writing, Shiba Inu’s prices are trading at around $0.00001,228, an increase of over 2% over the past 24 hours. data From CoinMarketCap.
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