Shiba Inu Set for 80% Surge? 3 Key Factors Fueling a February Comeback!

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The price movement of Shiba Inu has shown downward pressure because bulls remain inactive. The social sentiment score has been falling since the persistent decrease in market demand. SHIB price might stabilize in a short amount of time since it achieved oversold status while Shibarium transaction activity grows.

Shiba Inu Price Decline and Falling Active Addresses

The downward trajectory of SHIB prices has lowered investor trading behavior across platforms. The analytics platform IntoTheBlock shows daily active addresses dropped 23% throughout the previous week. The total address count shows two notable declines: active balances experienced a 32% decline and the zero balance address population fell more than 50%.Shiba inu Active Addresses

Recent statistics confirm Shiba Inu whales maintained possession of their holdings despite the cryptocurrency price decline. The SHIB token owners maintain control over 58% of all circulating tokens right now. The purchase of 275 billion SHIB coins by a single “whale” investor on Tuesday suggests optimism regarding upcoming price growth for the token.

When prices decrease retail traders make token sales yet larger investors move to accumulate more assets. Sentiment analyzed on social media exhibits a matching pattern during moments when social media enthusiasm weakens.Shiba Inu Social Score

Shibarium Transactions Continue to Grow

Shibarium network’s rising transaction volume indicates that SHIB’s price might recover. According to ShibariumScan statistics, the transaction volume on Shibarium has grown substantially throughout the past months. Transaction volume on Shibarium reached the milestone of 863 million coinciding with early February this year.

Analytics show that the initial quarter of this year will exceed one billion transactions based on the present increasing transaction volume. The Shibarium network has achieved more than 2.01 million active addresses and continues to attract more users.

The development of a robust Shibarium ecosystem will enhance token-burning activity for Shiba Inu (SHIB). The Shibarium network operates with BONE payments while transforming a percentage into SHIB tokens that permanently disappear from circulation.

Shiba Inu Approaching Oversold Territory

Technical indicators reveal that SHIB’s price will soon reach its boundary for overselling. The Relative Strength Index (RSI) functions as a tool to determine when an asset moves into overbought or oversold states.

The Relative Strength Index started from 82.7 in November before reaching a level of 36. A value below 30 will put SHIB into an officially oversold position. In August Shiba Inu crossed this threshold for the last time which led to price gains surpassing 200%.Shiba Inu Price

SHIB Price Targets and Key Support Levels

A falling wedge pattern has developed in Shiba Inu price while approaching its imminent point of breakout. The trading pattern suggests an upcoming price recovery making $0.00003325 the critical trading level. An 80% rise above current valuations would arise from this next price milestone.

The falling wedged pattern may be invalidated and a new downward trend may begin when SHIB establishes a price point below $0.000016. The major resistance and support points for SHIB draw increased trader scrutiny while the coin navigates its potential movement.

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