Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Shiba Inu’s 21% Price Decline Set to Extend with 2-Week Downtrend

Shiba Inu’s 21% Price Decline Set to Extend with 2-Week Downtrend

BeInCryptoBeInCrypto2025/08/06 15:30
By:Aaryamann Shrivastava

Shiba Inu’s ongoing downtrend and sharp drop in new address activity signal continued losses unless key resistance levels are broken. A market shift is essential for recovery.

Shiba Inu has been experiencing a continued decline over the last two weeks, with the meme coin leader now facing the possibility of further losses. 

The ongoing downtrend signals that SHIB is losing momentum, primarily due to diminishing investor support, which has led to a 21% price drop.

Shiba Inu Losses Monunt

The number of new addresses interacting with Shiba Inu has sharply declined, reflecting waning investor interest. In just two weeks, the number of new addresses fell by 44%, dropping from 2,059 to 1,171. 

As investors retreat, so does the likelihood of SHIB gaining significant momentum. The decline in new addresses suggests that Shiba Inu is losing traction, making it harder for the altcoin to recover. Without fresh interest, the token may struggle to attract the demand needed to counteract its ongoing downtrend.

Shiba Inu’s 21% Price Decline Set to Extend with 2-Week Downtrend image 0Shiba Inu New Addresses. Source: Glassnode

The broader market sentiment also appears to be impacting Shiba Inu. The Relative Strength Index (RSI), a technical indicator, is currently sitting in the bearish zone below the neutral mark at 50.0.

This highlights the lack of buying pressure and suggests that bearish conditions could persist. As such, Shiba Inu’s recovery seems bleak unless a shift in market conditions occurs. The weak RSI reflects the broader pessimism in the market, further pressuring SHIB’s price.

Shiba Inu’s 21% Price Decline Set to Extend with 2-Week Downtrend image 1Shiba Inu RSI. Source:  TradingView

SHIB Price Drawdown Might Continue

Shiba Inu’s price has fallen 21% over the past two weeks, with the altcoin trading at $0.00001212. Despite the recent drop, SHIB remains under the downtrend line, showing little sign of a major rebound. The price is struggling to break past key resistance levels and faces challenges in reversing the trend.

If SHIB can hold the support level of $0.00001182, it may consolidate between $0.00001182 and $0.00001252. However, if the downtrend persists, SHIB could drop further to $0.00001141, threatening the continuation of its bearish momentum. This decline could erase more gains, further disappointing investors.

Shiba Inu’s 21% Price Decline Set to Extend with 2-Week Downtrend image 2Shiba Inu Price Analysis. Source:  TradingView

If the market sentiment shifts and Shiba Inu’s price manages to flip $0.00001252 into support, it could signal a potential recovery. A break above this level could allow SHIB to rise to $0.00001333, suggesting a reversal of the downtrend. However, this recovery depends heavily on external market factors and investor sentiment.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!