Shiba

Convergence

Momentum

Shiba Inu

Divergence

<ul>
  
 <li>Shiba Inu drops 1.93% as Shibarium and Shibaswap face reduced user engagement.&nbsp;&nbsp;</li>   
 <li>SHIB could fall to $0.00001371 before a potential 50% recovery.&nbsp;&nbsp;</li>   
 <li>Shibarium's stagnation and Shibaswap's weak activity weigh heavily on SHIB's market performance.</li> 
</ul>   
As of writing, <a href="https://cryptonewsland.com/shiba-inu-exec-unveils-shib-burn-strategy-after-key-ecosystem-upgrade/" target="_blank" rel="noreferrer noopener">Shiba Inu (SHIB)</a> is trading at $0.00001464 after losing 1.93% in the last 24 hours. This meme coin has faced reduced utility in its key ecosystem projects, Shibarium and Shibaswap.&nbsp;   
As user engagement drops, SHIB’s price reflects growing concerns from investors. Shibarium, a Layer 2 scaling solution, is struggling to gain traction.   
Shibaswap, another critical project, holds just $15 million in assets at present. These setbacks are weighing heavily on SHIB’s market performance.   
<h2 class="wp-block-heading" id="h-shib-s-decline-and-potential-recovery">SHIB's Decline and Potential Recovery</h2>   
Since reaching a high of $0.00004567 in March 2024, Shiba Inu has been on a downward trend. The coin dropped to a low of $0.00001078 and saw a nearly 3% decline on Sunday.&nbsp;   
This price drop has been attributed to low adoption of Shibarium and the low user activity on Shibaswap. SHIB could dip further, targeting $0.00001371, which marks the lower boundary of the Fair Value Gap (FVG).&nbsp;   
If this imbalance is filled, SHIB may start recovering. SHIB might rally to $0.00002017, a level we haven’t seen since July 16. This would be a <a href="https://cryptonewsland.com/shiba-inu-rally-what-investors-should-know-about-the-4-5-price-surge/" target="_blank" rel="noreferrer noopener">50% gain</a>, but only after the price drops 8% to $0.00001371 first.   
Support for SHIB could be found at $0.00001303, the low from September 17. However, recent data from Shibariumscan shows concerning trends. The number of active accounts and transactions has stagnated, supporting a bearish outlook for Shiba Inu.   
<h2 class="wp-block-heading" id="h-positive-momentum-signals-amid-bearish-trends">Positive Momentum Signals Amid Bearish Trends</h2>   
Despite the negative trends, the <a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/macd" target="_blank" rel="noreferrer noopener nofollow">Moving Average Convergence Divergence</a> (MACD) indicator offers some hope. The green histogram above the neutral line signals underlying positive momentum.   
Shiba Inu may aim for $0.00002017 by the end of Q4 2024. However, the coin’s future depends heavily on <a href="https://shibarium.shib.io/" target="_blank" rel="noreferrer noopener nofollow">Shibarium</a> and Shibaswap. Without a boost in user activity, SHIB could continue to struggle.   
The meme coin's path forward will require renewed interest in its ecosystem. Without it, even a strong technical setup may not be enough to push SHIB higher in the long run. 
The post <a href="https://cryptonewsland.com/shib-dips-8-amid-slow-shibarium-adoption/">SHIB Dips 8%: Is Slow Shibarium Adoption to Blame?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

SHIB Dips 8%: Is Slow Shibarium Adoption to Blame?

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