Shiba Inu (SHIB) continues to be a sign of interest in the market as consolidation grips most altcoins in a final push towards recovery. Shiba Inu network numbers are mostly bearish; However, they are at an inflection point where the balance could soon tip towards the bulls. At the time of writing this article, Shiba Inu is down 1.8% to $0.000009706.
Shiba Inu (SHIB) continues to be a sign of interest in the market as consolidation grips most altcoins in a final push towards recovery. Shiba Inu network numbers are mostly bearish; However, they are at an inflection point where the balance could soon tip towards the bulls. At the time of writing this article, Shiba Inu is down 1.8% to $0.000009706.
This latest bearish figure has trimmed Shiba Inu’s gains over the past week and is now down to 7.61%. Despite the critical stress test the token underwent in recent days, it remains resilient and remains afloat above the psychologically important $0.0000095 level.
The Shiba Inu network numbers tell a different story, with the burning rate It is currently holding steady, sending around 5,136,299 SHIB to dead wallets overnight. However, Shibarium’s transaction count also remains below average, with a notable recovery seen between January 13 and 14.
During this period, Shibarium transactions went from a monthly low of 1.16 million to 1.97 million. This Shibarium rally shows that the market is waking up with more support from retail investors.
New week, New possibilities
Shiba Inu in particular has a clean slate, as opportunities for new numbers to emerge are already showing up. After a significant decline, the chances of recovery are high, with growth initiatives on the horizon.
As the euphoria over Bitcoin exchange-traded fund (ETF) products dies down a bit more, the attention of SHIB loyalists may return to the protocol, thereby bringing in fresh capital across the board.
The Bitcoin spot ETF made most investors feel like they needed to get a piece of the product to take advantage of any opportunity that might offer first-mover advantage. With Bitcoin itself failing to provide the desired traction, Shiba Inu, with its opportunity to chart a more decisive growth pattern, may become plan B for these investors this week.
