Shiba Inu (SHIB) has experienced a decline in price, following the broader market trend. However, technical analysis suggests that SHIB is still within a bullish structure, specifically in Macro Wave 3. Key support zones for SHIB range from $0.000015 to $0.000016. Despite the recent drop, the analyst expects SHIB to recover and reach its all-time high before Wave 4 begins. On-chain metrics show a decrease in network activity, indicating lower participation levels in the SHIB ecosystem. Ownership dynamics present a mixed picture, with a minor reduction in whale holdings but increased activity from mid-sized holders and declining retail participation.



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