Shiba Inu prices haven’t moved much in the last 24 hours. At the time of the press, it was down just 0.6%, primarily in line with the decline in the broader memocoin market. However, looking at the larger image makes things worse.
Shiv has dropped by more than 17% over the past 30 days. Due to the background, signs of bearishness are beginning to appear and speed up. However, there is one indication of intensity that allows you to shift the tone.
Active addresses approach monthly lows
The first red flag comes from the network itself. SHIB’s daily active addresses are steadily decreasing, and now closes at monthly lows. The metric is located at 3,148 just above the bottom of 3,130.
This is because previous surges of active addresses always precede the upward price movement. Between August 6th and 8th, the count jumped, and Shiv Price responded quickly.
While being minor on paper, this decline in activity coincides with bearish behavior. The Bullbear Power (BBP) indicator shows an increase in sales pressure, indicating that the bear is slowly controlling the price momentum of the Wave 1RO.
The Bullbear Power (BBP) indicator measures the difference between daily high/low/low averages and moving averages to measure whether the Bulls or Bears are currently controlling the price action.
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One major buyer may be lifting the floor
Despite the growing momentum of weak activity and bearishness, one metric is not lined up. Chaikin Money Flol (CMF) is still above the 0 line, indicating a net positive capital stream to SHIB. It usually happens when others are leaving while a key player is buying.
From a technical standpoint, creating a higher low for a CMF means an increase in the inflow of money into a given asset.
Looking deeper, this is alongside the behavior of the top 100 wallets. These wallets have recently accumulated almost 21 trillion shibes in 90 days.
So Smart Money and Whales are trimming positions, but more top 100 addresses have been added. The rise in CMF may reflect these influxes.
CMF combines prices and volume to show buying and selling pressure. Values above zero indicate accumulation, while values below zero indicate distribution.
Bearish crossover points further downside of Shiba Inu’s price
The Shib chart has clear technical warnings printed. In the daily time frame, the 20-day EMA (exponential moving average) or the red line exceeds the 50-day EMA (orange line). In general, sharp corrections follow this bearish crossover.
At the same time, the price is below the support level of 0.00001259 and is currently trading at close to 0.00001247. If sales continue, the next price floor will appear around 0.00001215. If it breaks, 0.00001160 is likely to be the target and marks a potential deepening of the 30-day fix.
Only clean breaks above 0.00001320 will negate this bearish outlook. That level turns Emma over and restores short-term momentum, but up until then, the downside risk remained dominant.
The price of the Post-Sea Bine slips into the bearish property, but the wallet at the top shows that the twist first appeared in Beincrypto.
