Shiba Inu (SHIB) is experiencing a remarkable resurgence in activity on its Shibarium blockchain. The number of active accounts surged by 1,557%, reaching a peak of over 26,000 on October 22. Furthermore, daily transactions skyrocketed to 1.76 million, signaling renewed interest in the protocol. This unprecedented on-chain activity has SHIB’s community hopeful that the heightened momentum might finally push SHIB toward a breakout. However, for a sustained rally, SHIB will need to overcome technical resistance and mixed market sentiment.
MACD and RSI Show Mixed Signals for SHIB’s Potential Breakout

Technical indicators reveal both promise and caution for Shiba Inu’s price action. The MACD is displaying narrowing bars, signaling a possible momentum shift. However, the MACD line remains slightly below the Signal line, which shows that bullish momentum has yet to fully take hold. This setup implies that SHIB has the potential for an uptrend, but the trend remains uncertain. In addition, SHIB’s Relative Strength Index (RSI) currently reads 51.42, indicating neutral sentiment among investors. With neither overbought nor oversold conditions, SHIB lacks the immediate momentum to drive a strong rally, requiring stronger buying interest to shift the balance.
On-Chain Data Indicates Cautious Sentiment
On-chain metrics further reflect the cautious stance of SHIB investors. Shiba Inu’s net network growth has slipped to -0.22%, hinting at a slight dip in network participation. This modest decrease indicates that, while there is notable activity on Shibarium, overall interest in the network remains conservative. Additionally, large holders currently make up only 0.05% of the total SHIB holders, providing a minor bullish indicator that lacks the intensity needed for a substantial breakout. Moreover, SHIB’s “In the Money” metric stands at -0.63%, meaning the majority of holders are experiencing slight losses. Large transactions have also decreased by 4.11%, suggesting reduced activity from SHIB whales. Despite signs of minor bullish interest, bearish signals currently dominate SHIB’s on-chain outlook.
Exchange Flows and Market Sentiment Present Resistance

Although SHIB’s exchange reserves have steadily declined to 138.67 trillion tokens, indicating possible accumulation, recent flows rose by 0.02%. This uptick could suggest minor short-term selling pressure as traders act cautiously. Currently, the long/short ratio shows that 52.05% of traders are shorting SHIB, signaling a high level of market skepticism. Thus, while the increased activity of Shibarium presents promising opportunities for SHIB, investor sentiment remains wary.
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In summary, while Shibarium’s explosive growth holds potential, SHIB’s technical and market indicators show that overcoming resistance will be essential. For Shiba Inu to achieve sustained bullish momentum, improved sentiment and a shift in market behavior will be necessary.
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