#Crypto Market Rebound#  Shiba Inu Fails to Escape; Price Falls Despite New Investors

Shiba Inu has been in a constant downtrend for the past month, preventing the popular meme coin from making significant gains. While there has been a significant increase in new investor activity, it has not been enough to offset the ongoing price decline.

Shiba Inu’s struggle to recover from this slump highlights the challenges it faces in regaining its momentum.

Shiba Inu Under Selling Pressure

Active addresses that are in profit currently account for over 25% of Shiba Inu’s total addresses. These owners who are making a profit are the ones who are more likely to cash out, leading to increased selling pressure on the price. This concentration of profitable addresses could weigh heavily on the price if it continues to dominate.

If investor behavior shifts from selling to holding, Shiba Inu could survive the ongoing price decline.

Shiba Inu’s overall macro momentum is improving slightly as new addresses are starting to increase again after a month of decline. The increase in new investors indicates renewed interest in the meme coin, which could bring fresh capital to the asset.

This increase in new investors could help offset the selling pressure from current profit taking. If this trend of increasing interest continues, SHIB could generate the momentum it needs to break out of current resistance levels.

SHIB Price Should Rise.

Shiba Inu’s price is at $0.00001127. The coin attempted to breakout earlier this week but failed, resulting in a false breakout. The price remains under pressure as SHIB attempts to breakout above the $0.00001141 resistance level. This makes it vulnerable to further declines with the potential to drop to $0.00001059.

Currently, SHIB is below the $0.00001141 resistance level. If it fails to breakout and confirm this level as support, it is likely to continue its downtrend and test lower levels. A further slide to the $0.00001059 level will only increase the bearish sentiment around the coin.

If Shiba Inu manages to flip the $0.00001141 resistance into support, it could form a solid foundation for the altcoin. With the help of new investors, SHIB could surpass the $0.00001188 level and break out of the downtrend. This would invalidate the bearish thesis and signal a more positive outlook for the coin.