Shiba Inu Sees 1.5M Wallets Despite 18% Decline, Eyes 2025 Recovery
Despite a recent 18% decline, Shiba Inu (SHIB) demonstrates strong community support. Over 1.54 million wallets hold SHIB, showing increased investor interest despite market challenges.
Investor Confidence and Market Position
- SHIB trades near $0.00000985 with a market cap of about $5.86 billion.
- Year-over-year, the token is down over 47%.
- The community's growth during bearish periods highlights its appeal.
Short-Term Concerns
- CryptoQuant data shows a 56.6 billion SHIB increase in exchange reserves within 24 hours, indicating potential selling pressure.
- A descending triangle pattern on SHIB’s chart suggests possible further price declines.
- Support at $0.00001052 has been repeatedly tested, risking a drop to $0.000006.
Potential Rebound Factors for 2025
- Shibarium layer-2 adoption and token burn mechanisms could drive long-term recovery.
- Reducing the 589 trillion supply is seen as crucial for price appreciation.
- Bullish projections see potential retests of $0.000025–$0.00005 if conditions improve.
- Success depends on delivering DeFi, metaverse, and NFT developments.
The loyalty of its holders underscores the community's resilience in pursuing a comeback.