The Shiba Inu price recovery (SHIB) appears to be gaining momentum, supported by a significant increase in the creation of new wallets on its network. This phenomenon, not seen in nearly two and a half months, suggests renewed investor confidence. Data from the analytics platform Santiment confirms that interest in the ecosystem is growing notably, which could be key to its future valuation.
The SHIB token experienced a drop of nearly 18% during September but is now showing clear signs of a potential reversal. Currently, the asset is trading around $0.00001285, and to consolidate its recovery, it must overcome key levels. The first major resistance is at $0.00001336, followed by a stronger barrier at $0.00001391. If it manages to break through these points, the path to a full recovery from the previous month’s losses would be clearer.
What is Driving the Optimism?
The growth of new addresses is a fundamental indicator for the health of any crypto project, as it suggests an inflow of fresh capital. This increase in network activity can be interpreted as growing interest from both retail investors and institutional players. Furthermore, selling pressure from long-term holders, those who have held their tokens for about a year, is currently low. This provides a solid base that helps stabilize the price.
Another relevant factor is that the average return for these long-term investors stands at 0.85x, meaning they have not yet reached a significant profit zone. This data suggests they are more likely to continue holding their assets rather than selling, thereby reducing bearish pressure in the market. This dynamic is crucial for the Shiba Inu price recovery to be sustainable over time and not just a speculative bounce.
The Future of the SHIB Ecosystem
The current market situation shows a favorable outlook for the token’s economy. However, the overall sentiment of the cryptocurrency market remains a determining factor. If the market turns bearish, there is a risk that SHIB could lose its key support at $0.00001209. A drop below this level could invalidate the bullish outlook and push the price towards a new low of $0.00001161, so investors must remain vigilant.
The Shiba Inu ecosystem faces a significant test in the coming days. The asset’s ability to stay above its supports and break through nearby resistances will define its short- and medium-term trajectory. The combination of its growing user base and low selling pressure from long-term holders offers an optimistic perspective, but the market will dictate the final outcome.
