The hype around meme coins in the cryptocurrency market, including Shiba Inu (SHIB), has significantly faded. Demand for SHIB has decreased, with new addresses and daily active addresses dropping to their lowest levels this year. The decrease in on-chain activity indicates a weakening market for SHIB and a potential increase in price drops and volatility. On the daily chart, SHIB's price remains below a descending trend line, signaling a downtrend in the market. The coin's price could fall further to $0.000014, but a spike in new demand may drive the price above the trend line to $0.000018.



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