Shiba Inu (SHIB) price is trading with a bearish bias, following in the steps of the Bitcoin of meme coins, Dogecoin (DOGE), which is down around 2%.
Shiba Inu price is testing a critical support due to the ascending trendline
-hour chart On-chain metric support bearish outlook for Shiba Inu price The Network Realized Profit/Loss metric, which has recorded positive spikes in the last two weeks, shows consistent profit-taking by Santiment: Network Realized Profit/Loss Besides the Network Realized Profit/Loss metric, another measure that bolsters the bearish thesis is the decline in address activity. Both the number of active addresses and the Network Growth have declined, signaling a shift in interest from market participants.
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