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SHIB Shiba Inu's on-chain activity surged 42%, but price signals are still unconvincing
Although Shiba Inu's (SHIB) on-chain activity increased 42%, this indicator cannot yet confirm renewed buying demand in the market due to unclear trading purposes. SHIB is still above the key support level of US$0.000050, while the resistance zone between US$0.000056 and US$0.000057 still hinders buyers 'attempts to break through seeking stronger upward momentum.
A neutral relative strength index (RSI) and weak trading volume limit bullish confidence, so price confirmation is crucial before network growth signals indicate a reliable recovery trend.
Rising chain activity and lagging demand confirmation
Shiba Inu's chain activity has increased by 42%, but its price structure has not yet confirmed a rebound in buyer demand. According to online data, this increase reflects more transactions, wallet transfers or other interactions involving SHIB holders on the blockchain. However, the indicator does not show whether users are buying tokens, selling positions, or transferring assets between wallets and exchanges.
Currently, the trading price of SHIB is around US$0.0000521, up from the low of around US$0.000041 in July. In addition, price action remained below important resistance levels and trading volumes were below levels set during previous rallies. Therefore, broader market confirmation is needed to support this increase in activity before traders interpret it as evidence of continued accumulation.
Resistance zone becomes main test for SHIB
SHIB faces strong resistance between $0.000056 and $0.000057, where a falling long-term moving average adds to selling pressure. During the rally in late August, the token briefly broke through the area and touched approximately US$0.000062, before losing momentum. Buyers failed to hold on to the breakthrough, causing the SHIB to fall below resistance and approach its short-term moving average.
Despite this, the token remains above the support cluster located around US$0.000050 to US$0.000051. Holding this range can maintain the structure of the recovery and provide an opportunity to challenge major resistance areas again. On the contrary, a fall below US$0.000050 will weaken the current layout and expose lower support levels between US$0.000047 and US$0.0000045.
Volume and momentum need to be improved
The momentum indicator provides limited comfort as the SHIB's Daily Relative Strength Index (RSI) remains around the neutral 50 level. In addition, trading volumes have fallen sharply from the strong activity that accompanied the rebound in July and August. Lower trading volumes suggest fewer market participants are supporting the recovery, reducing the reliability of isolated uptrends.
If it continues to exceed US$0.000057, it will provide stronger evidence that increased blockchain activity represents real market demand. Such breakthroughs will have greater significance if volume expands and momentum clearly enters bullish territory. Internet activity in Shiba Inu suggests wider participation, but the price chart still lacks decisive bullish confirmation. Before SHIB establishes a solid recovery trend, stronger volume, improving momentum and continued gains above resistance are still needed.
