Shiba Inu has been experiencing a continuous decline over the past month, hindering its ability to gain traction. Despite a rise in new investors, this influx has not been sufficient to reverse the downward trend. Currently, over 25% of Shiba Inu's addresses are profitable, which may lead to increased selling pressure as these holders are likely to cash out. If investor sentiment shifts towards holding, it could alleviate some of the selling pressure. Recently, there has been a slight improvement in macro momentum, with new addresses increasing after a month of decline, indicating renewed interest in the coin. As of now, Shiba Inu's price is at $0.00001127, struggling to break through the resistance level of $0.00001141. If it fails to do so, it may drop to $0.00001059, intensifying bearish sentiment. Conversely, if Shiba Inu can convert the resistance into support, it may pave the way for a potential upward trend. Read more AI-generated news on: https://app.chaingpt.org/news

#SHIBĀ