Shiba Inu’s Price Stability and Investor Confidence
Shiba Inu (SHIB) is showing signs of strength. Its price is holding above a key support level. This suggests strong demand. On-chain data reveals a rise in new wallet addresses. This indicates growing investor confidence.
SHIB has been tested at its value area low multiple times. Yet, it remains steady. Buyers are actively defending this zone. An increase in new wallets shows that investors are accumulating positions.They expect a bullish recovery.
The token burn rate has surged over 7,000%. This reduces the circulating supply. This reinforces bullish sentiment.
From a technical standpoint,SHIB’s position near daily support highlights significant demand. the value area low has acted as a reliable floor. Each retest has been met with buying pressure. The market structure remains bullish. Price action respects higher lows and defends prior swing levels.
On-chain data supports this technical picture. The number of wallet addresses interacting with SHIB continues to increase. This reflects healthy network activity and ongoing interest from investors.
What to expect in the coming price action? As long as SHIB maintains support above its value area low, the probability of upside continuation remains high. A decisive reclaim of the value area high could ignite a new bullish phase toward higher resistance.
- Strong Daily Support: The value area low has held across several retests.
- Bullish Market Structure: Higher lows remain intact.
- Growing On-Chain Demand: Rising total and new wallet addresses.
