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Shiba Inu (SHIB) Gains New Demand: Will it Drive Price Upward?

Shiba Inu's performance in May 2023 was lackluster, but on-chain data suggests that the cryptocurrency has been attracting new demand in recent weeks. This is a positive development after Shiba Inu lost market share to other meme coins in early May. The recent launch of Shiba Inu's cold wallet has rejuvenated the network's growth, which could impact the price in the coming days. The increase in new users joining the network and the supply shortage could trigger more price gains, with bulls targeting $0.000011. However, the price could slip into a bearish trend if it drops below the $0.000008 support zone.

Shiba Inu Shiba Inu $0.00
-2.54%
SHIB Cryptocurrency
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