Shiba Inu (SHIB) recently saw its price slide toward $0.000022, marking a 13.4% weekly drop and a sharp 16% plunge within 24 hours. This downward movement aligns with broader market volatility, as major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) also suffered losses amid growing macroeconomic concerns. Despite this bearish pressure, a surprising trend is unfolding beneath the surface: Shiba Inu’s ecosystem is experiencing record adoption.
On-chain data reveals that the number of funded SHIB wallets has surged to an all-time high of 1.38 million, with over 100,000 new wallets created in 2024 alone. This surge in wallet growth signals strong underlying interest, even as prices struggle to gain traction. Could this influx of new investors be a sign of long-term confidence in SHIB’s potential?
SHIB Price Drops Toward $0.000020 Amid Broader Market Sell-Off
Shiba Inu’s price has been under intense pressure, falling to $0.000022 by mid-week after a failed attempt to stabilize at $0.000023. The decline reflects a broader risk-off sentiment across financial markets, driven by expectations of a more hawkish stance from the U.S. Federal Reserve in 2025. As interest rate policies tighten, traders are reducing exposure to high-volatility assets—including memecoins like SHIB.
While SHIB is often categorized as a speculative memecoin, its price movements are increasingly influenced by macroeconomic forces and technical indicators. The 4-hour chart for SHIBUSD now shows a "death cross" formation, where the 50-period simple moving average (SMA) has crossed below the 200-period SMA. This pattern is widely interpreted as a bearish signal, suggesting further downside pressure in the near term.
The immediate support level sits at $0.000020**, a psychological and technical floor that could determine whether SHIB stabilizes or enters a deeper correction. A breakdown below this level might open the path toward **$0.000015, especially if selling volume remains strong and broader crypto sentiment stays negative.
Record Wallet Growth Signals Strong Investor Interest
Amid the price slump, one metric stands out: Shiba Inu’s funded wallet count has hit 1.38 million, according to on-chain analytics platform IntoTheBlock. This metric tracks unique addresses holding more than zero SHIB tokens, serving as a reliable proxy for user adoption and ecosystem growth.
The addition of over 100,000 new wallets in 2024—despite a bearish market—suggests that many investors view the current dip as an accumulation opportunity. This trend highlights a growing belief in SHIB’s long-term utility beyond its memecoin origins, particularly as the Shiba Inu ecosystem expands with developments in decentralized finance (DeFi), NFTs, and layer-2 solutions.
Interestingly, this growth occurs even as Solana-based memecoins dominate social media and short-term trading trends. The fact that SHIB continues to attract users under such conditions underscores its enduring brand recognition and community strength.
However, increased wallet adoption doesn’t always translate to immediate price recovery. Many new entrants may be speculating on future catalysts—such as exchange listings, ecosystem upgrades, or renewed retail hype—rather than driving active buying pressure today.
Technical Outlook: Can New Buyers Prevent a Breakdown?
The technical picture for Shiba Inu remains cautious. The death cross on the 4-hour chart reinforces bearish momentum, and trading volume has yet to show signs of sustained accumulation. For bulls to regain control, two key conditions must be met:
- Price must hold above $0.000020 – A decisive close above this level could trigger short-term stabilization.
- Volume must increase on upward moves – This would confirm genuine buying interest rather than passive holding.
The Volume-Weighted Average Price (VWAP) at $0.000021 acts as a short-term pivot point. If SHIB can sustain trading above this level, it may challenge resistance at **$0.000023**, where the 50-day SMA currently resides. A breakout beyond this zone could spark a relief rally, especially if broader market sentiment improves.
Yet, without a macro-level shift—such as dovish Fed commentary or a resurgence in crypto ETF inflows—the path to recovery remains steep. In the current environment, SHIB’s price action will likely remain range-bound between $0.000015 and $0.000025 until stronger catalysts emerge.
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Core Keywords Driving SHIB’s Narrative
The ongoing Shiba Inu story is shaped by several key themes that resonate with investors and traders alike:
- Shiba Inu price forecast
- SHIB wallet growth
- Memecoin market trends
- Cryptocurrency adoption
- On-chain analysis
- SHIB technical outlook
- Market sentiment 2025
- Crypto price prediction
These keywords reflect both short-term trading interests and long-term investment considerations. By naturally integrating them into discussions about price action, adoption metrics, and macro trends, this analysis aligns with search intent while maintaining readability.
Frequently Asked Questions (FAQ)
Q: Why is SHIB price falling while wallet numbers rise?
A: Price and adoption don’t always move in sync. Many new investors are buying at lower prices, increasing wallet counts even during downtrends. This suggests accumulation rather than immediate selling pressure.
Q: What is a “death cross” and why does it matter for SHIB?
A: A death cross occurs when the 50-day SMA falls below the 200-day SMA, signaling stronger bearish momentum. For SHIB, it indicates that short-term sentiment is weak and further declines are possible.
Q: Can SHIB recover if wallet growth continues?
A: Sustained wallet growth improves long-term fundamentals, but recovery depends on broader market conditions, trading volume, and investor confidence. More buyers don’t guarantee price increases without active demand.
Q: What is the significance of 1.38 million funded wallets?
A: It’s an all-time high for SHIB, showing growing network participation. More holders mean greater potential for future price movement when sentiment turns positive.
Q: Is SHIB still considered just a memecoin?
A: While it started as a memecoin, SHIB now supports a full ecosystem including ShibaSwap, Shibarium (its layer-2 blockchain), NFTs, and decentralized governance—adding utility beyond speculation.
Q: What factors could trigger a SHIB price rebound?
A: Key catalysts include improved macro conditions, increased DeFi activity on Shibarium, exchange listings for new SHIB-based tokens, or renewed viral interest in memecoins.
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Final Thoughts: Long-Term Potential vs. Short-Term Volatility
Shiba Inu stands at a crossroads. On one hand, technical indicators and market sentiment point to continued short-term weakness. On the other, record wallet growth reveals persistent demand and long-term optimism.
This dichotomy is common in crypto markets—where price tells one story, and on-chain data tells another. For informed investors, the current phase offers an opportunity to assess whether SHIB’s fundamentals justify holding through volatility.
As macroeconomic conditions evolve in 2025 and blockchain adoption grows, memecoins with strong communities and expanding ecosystems—like Shiba Inu—may outperform expectations. While past performance isn’t indicative of future results, the combination of growing adoption and improving infrastructure makes SHIB a coin worth watching.
Whether you're trading for short-term gains or investing for the long haul, staying informed with accurate data and clear analysis is essential—and tools that provide real-time insights can make all the difference.