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Shiba Inu Price Holds Above $0.00001413 Despite Declining Active Addresses

Coin WorldMonday, May 19, 2025 12:16 am ET

1min read

Shiba Inu’s [SHIB] price has been hovering just above the $0.00001413 demand zone, following a rejection from the recent local high at $0.00001764. Despite the pullback, the price action still shows a bullish structure. The $0.00001413 level has historically been a strong demand zone, with price bouncing from this zone in past cycles, signaling buyer interest.

Adding to this outlook is the behavior of SHIB’s stochastic RSI, which is approaching an oversold region. This typically indicates that price recovery is near, especially when paired with solid support zones. In the past, deeply oversold stochastic RSI levels have preceded price recoveries, suggesting that SHIB has a real shot at recovery soon.

However, network data tells a different story. Active Addresses have steadily declined since the 11th of May, dropping from over 5,000 to nearly 3,200. A dip in active wallets often signals fading demand or cooling retail participation. Interestingly, this bearish sentiment is being countered by a sharp spike in Exchange Inflows over the last 24 hours. The inflow could suggest that traders are positioning for potential price action. While exchange inflows are not inherently bullish, in this context, paired with the demand zone and RSI reading, they may indicate an accumulation rather than sell pressure.

The current setup is a tug-of-war between bullish technical signals and bearish network activity. Price action, for now, seems more responsive to the positive on-chain developments. As long as SHIB keeps holding the $0.00001413 support zone, the path of least resistance may remain to the upside.

In summary, SHIB is at a critical juncture. Technical indicators suggest a potential short-term price reversal, with the stochastic RSI approaching an oversold region and the $0.00001413 level acting as a strong demand zone. However, declining active addresses indicate fading demand. The sharp spike in exchange inflows adds complexity, suggesting potential accumulation. The outcome will depend on whether technicals can overpower weak fundamentals, with the $0.00001413 support zone being the key level to watch.

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