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SHIB Shiba Inu's on-chain activity surged 42%, and prices are still limited by key resistance levels
As one of the largest memes by market capitalisation, Shiba Inu (SHIB) has recently experienced significant growth in on-chain activity, with an increase of up to 42%. The latest rise in this indicator suggests a surge in trading flows on the SHIB network, attracting a new round of attention from traders and analysts.
Implications for on-chain growth
An increase in on-chain activity usually means an increase in the volume of transactions or the number of interactions involving SHIB tokens. However, the data does not distinguish whether these movements are buying, selling, wallet transfers or other types of activities. Although increased activity tends to make holders optimistic, market analysts emphasize that price behavior, trading volume and broader market structure are needed to confirm this trend before interpreting it as a strong bullish signal.
Currently, the price of SHIB is approximately US$0.0000521. The price showed some resilience after recovering from a July low of about $0.000041. Despite the rebound, efforts to reverse the long-term downward trend have repeatedly encountered resistance and have not yet sent a firm signal of a fundamental shift in momentum.
Analysis of Current Price Dynamics and Resistance Levels
The main resistance area for SHIB is between US$0.000056 and US$0.0000057. The region is defined by a long-term moving average that is still moving downward. During a price surge in late August, SHIB briefly broke through this resistance level, touching about $0.000062. However, the rally was short-lived, and sellers quickly pushed the token price back below the resistance threshold.
In a shorter time frame, Shiba Inu showed signs of stability. The cluster of moving averages around $0.000050 to $0.000051 constitutes the current direct support level. If this support can be maintained, it will lay the foundation for the next round of recovery attempts. If the price falls below US$0.000050, it may move further downward into the US$0.000047 to US$0.000045 range.
Kinetic energy and volume signals
Kinetic energy indicators remain cautious. The Daily Relative Strength Index (RSI), a measure of price momentum, is currently near the neutral level of 50 rather than sending a clear bullish signal. At the same time, trading volumes have fallen significantly below their July and August highs, indicating weakening speculative interest in the short term.
Although SHIB's on-chain growth is significant, this does not guarantee a bullish reversal. Historically, online activity may increase before price changes, but it may also increase without delivering material benefits, especially if buying pressure weakens. Only when prices continue to break through the key resistance level of US$0.000056 to US$0.000057 and are supported by increased trading volume and momentum indicators can it be confirmed that highened on-chain activity is transforming into real market demand for SHIB.
