Shiba Inu (SHIB) price prediction: on-chain Address reduces by 44%, RSI deeply entrenched in Bear Market zone, key support $0.00001182 facing test.

In the past two weeks, the memecoin leader Shiba Inu (SHIB) has continued to fall, with a price drop of 21%, reflecting a significant decrease in investor interest. Key on-chain indicators are sending warnings: the number of new addresses has plummeted by 44%, indicating a lack of new capital getting on board; the Relative Strength Index (RSI) is deeply entrenched in Bear Market territory, highlighting a scarcity of buying pressure. The SHIB price is currently struggling around $0.00001212, constrained by a downward trend line. If the key support level of $0.00001182 is breached, it could further dip to $0.00001141. This article analyzes SHIB's recent downturn and potential trends by combining on-chain data and Technical Analysis.

On-chain Alert: New Addresses Fall by 44%, Investor Interest Drops Sharply Shiba Inu (SHIB) has been on a continuous decline over the past two weeks, and this memecoin leader is facing further downside risks. The ongoing downtrend indicates that SHIB is losing momentum, primarily due to weakened investor support. Key on-chain data reveals a grim situation: the number of new addresses interacting with SHIB has plummeted dramatically, falling 44% in just two weeks, from 2,059 to 1,171. The sharp decline in new addresses is a direct signal of waning investor interest, suggesting that SHIB is losing market appeal, making the recovery path for this altcoin even more difficult. Without the injection of new blood, the token is unlikely to attract sufficient demand to reverse the current downward trend.

Technical Analysis Under Pressure: RSI Deeply Trapped in Bear Market Zone, Rebound Prospects Dim The broader market's pessimistic sentiment is also clearly dragging down Shiba Inu (SHIB). The key technical indicator - Relative Strength Index (RSI) is currently deep in the Bear Market zone below the neutral level of 50.0. This highlights a severe lack of buying pressure in the market and suggests that the bearish conditions may persist. Therefore, unless there is a significant change in the market environment, the recovery prospects for SHIB look quite bleak. The weak RSI reading reflects the overall pessimistic atmosphere in the market, further exerting downward pressure on SHIB's price.

Price Trend Analysis: After a 21% big dump, the key support level $0.00001182 is in jeopardy In the past two weeks, the price of Shiba Inu (SHIB) has plummeted by 21%, trading at approximately $0.00001212 at the time of writing. Despite the significant recent decline, the SHIB price remains constrained by a downward trend line, showing no signs of a major rebound. The price struggles to break through key resistance levels, facing severe challenges in reversing the downward trend. If SHIB can hold the key support level of $0.00001182, it may consolidate within the range of $0.00001182 to $0.00001252. However, if the downward trend continues, SHIB may further dip to $0.00001141, potentially intensifying its bearish momentum. Such a decline could swallow up more of the previous gains, leading to further disappointment for investors.

Potential Turning Point: Break through the $0.00001252 resistance level to see the dawn If market sentiment reverses and the price of Shiba Inu (SHIB) successfully converts the $0.00001252 resistance level into a support level, it may signal a potential recovery. After effectively breaking through this resistance level, SHIB is expected to rise to the $0.00001333 level, suggesting that the downtrend may reverse. However, this recovery outlook is highly dependent on external market factors and improvements in investor sentiment, posing significant challenges in the current environment.

Conclusion: On-chain weakness and technical pressure resonance, SHIB's recovery urgently requires a market sentiment reversal In summary, Shiba Inu (SHIB) is facing dual pressures of significantly shrinking on-chain activity and technical indicators deeply entrenched in a Bear Market. The 44% drop in new Addresses and the weak RSI highlight a lack of market interest and buying power, with prices struggling above the key support level $0.00001182. In the short term, if it cannot effectively break through the $0.00001252 resistance and improve market sentiment, SHIB is likely to find it difficult to escape the downward channel. Investors need to closely monitor changes in on-chain Address activity and the defense of key support levels, remaining vigilant against further fall risks. The memecoin sector is highly volatile, and SHIB's path to recovery requires a strong catalyst to be initiated.