Shiba Inu has begun showing signs of recovery after a sharp decline in September that erased nearly 18% of investor gains.
The meme coin is now attempting to rebuild its momentum amid growing market optimism. With selling pressure easing and new demand emerging, SHIB appears poised to reclaim lost ground in the coming days.
Shiba Inu Investors Are Bullish
One of the strongest indicators supporting Shiba Inu’s rebound is the rise in new addresses interacting with the network. Over the past several days, the number of new addresses has climbed sharply, marking the highest level in nearly two and a half months.
SponsoredThis metric tracks first-time transactions to measure whether a project is gaining traction. SHIB’s spike suggests rising interest among retail and institutional participants. A surge in new wallet creation typically signals fresh capital inflows and a growing user base.
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From a broader perspective, Shiba Inu’s macro momentum remains steady. Data from the HODL Caves indicator shows that investor selling is likely to remain muted in the near term. The median return for addresses holding SHIB for about a year is currently 0.85x, suggesting holders are not yet in significant profit territory.
As a result, these mid- to long-term investors are expected to continue holding rather than selling prematurely. This reduced selling pressure can stabilize price fluctuations, giving SHIB a stronger foundation for gradual recovery.
SHIB Price Continues To Push
At press time, Shiba Inu is trading at $0.00001285, aiming to establish this level as solid support. The meme coin is now 11% away from fully recovering the 18% losses recorded in September. Sustaining current momentum could help SHIB solidify its recovery structure.
To complete this recovery, SHIB must climb back to $0.00001428. Achieving this target requires breaking through the $0.00001336 and $0.00001391 resistance levels, both of which have proven challenging. However, with new addresses rising and selling activity low, these targets appear attainable.
If market sentiment turns bearish, Shiba Inu could face downside risk. A fall below $0.00001209 support might trigger additional losses, potentially driving SHIB down to $0.00001161 and invalidating the ongoing bullish outlook.
