Shiba Inu continues to attract a growing number of investors, even if the cryptocurrency market has seen a decline recently.
A measure of cryptocurrency popularity and investor interest, “Funded Wallets” on IntoTheBlock shows all addresses with a balance greater than zero.
There are already 1.38 million funded wallets holding SHIB, with over 100,000 new wallets created in 2024 alone.
This shows that new investors are still interested in the Shiba Inu ecosystem.
Additionally, the standard expansion network confirms that Shiba Inu is popular all over the world, even if Solana memes have been dominating the media for a while.
To be sure, traders are preparing for a more contractionary monetary policy environment in 2025, so the bearish sentiment is still there.
As a result, the imminent recovery in SHIB price may not be a direct result of increased wallet usage in the near future.
Instead, they represent bets on the future success of SHIB.
Shiba Inu Price Prediction: New Buyers May Stop Collapse at $0.000020
After a sharp 16% drop in the past day, Shiba Inu is under heavy downward pressure.
The “death cross” signal between the 50-day and 200-day simple moving averages on the 4-hour SHIBUSD chart indicates significant downside risks, and bears are taking advantage of it.
If the current market weakness continues, as this bearish crossover suggests, sellers will gain the upper hand and push prices to the important support around $0.000020, or perhaps lower, to $0.000015.
The volume weighted average price (VWAP) is now at $0.000021, indicating that bulls are trying to establish a temporary base above this level.
If SHIB can sustain its recent gains above VWAP, it could be able to surpass the current resistance level at $0.000023, where the 50-day simple moving average will be present.