Known as the doge killer, Shiba inu (SHIB) proves that his graphics are in a downtrend, although he has received serious distribution.
SHIB Price Performance
SHIB remains in a narrow trading range below $0.000014. At the time of this writing, SHIB is trading at around $0.000012, down 0.4% over the past 24 hours. The SHIB chart forms a triangular shape with support around $0.0000087 on a weekly basis. Therefore, the price of SHIB and its RSI show that there will be no sudden exit.
In fact, last week the SHIB fell to $0.0000087, although it has shown a recovery in the last period. SHIB, which experienced strong pressure from sellers, was able to recover to $0.000014 on May 13 thanks to the contribution of SHIB lovers. However, looking at its two-day chart, it seems that SHIB consolidated below this 0.000014 dollar and failed to rise. Although today the SHIB may reach $0.000013 during the day, it drops back to $0.000012.
Shiba Inu Developments
On the other hand, despite the recent decline in SHIB, Shiba Inu adoption appears to have increased significantly. According to the WhaleStats report, the number of wallets with SHIB has reached 1,162,394. In addition, the fact that this popular meme token has 3.3 million Twitter followers shows that the popularity of SHIB is growing.
In addition, it can be seen that the number of addresses that keep SHIB in their wallet for more than a year has increased by 12%. Overall, 83% of SHIB shareholders have owned SHIB for more than a year, and 5% for less than a month.
In addition to all this, Shiba Inu is experiencing a significant increase in corporate adoption. After entering into an agreement with BitPay, Shiba Inu continues to be used in many payment points where BitPay operates. A new one with Unfranchise is added to them.
In addition, shiba inu is often talked about with its updates on the web. Shiba Inu, which is trying to complete its developments with Shibarium, SHI and SHIBFE, announces that these updates will appear this year.