Shiba Inu Investors Remain Optimistic Amidst the Ongoing Decline of SHIB

Shiba Inu investors remain optimistic as the number of interacting wallet addresses increases while Shibarium prepares to burn 500 SHIB. PuppyScan reports that over the previous few days, there have been an additional 2 million interacting wallet addresses. Investors’ confidence has increased as a result of the rise in the number of interacting wallet addresses, which shows a growing user base.

Additionally, a significant burn that is required for network maintenance is likely to start soon, according to the Shiba Inu Twitter account handle. It’s important to note that in only one transaction over the previous 24 hours, 250,000 SHIB tokens were burned. SHIB has declined during the past week by roughly 5% as of the time of this writing. As investors wait for the burning, this decline might only persist for a short duration.

Key Shiba Inu Levels To Watch – April 20

The diagonal support finally broke as the price experienced an influx of sell orders from the $0.000011880 price level. Before the rally alongside the diagonal support, the price declined massively from the $0.000014000 supply zone.

The decline from the $0.000014000 supply zone invalidated the previous lows at $0.000011710 and $0.000010880 levels. According to the Moving Average, the market is bearish. However, a reversal might occur at the $0.000009020 demand zone.

Shiba Inu Key Levels

Resistance Levels: $0.000012630, $0.000014000, $0.000015900
Support Levels: $0.000009640, $0.000009020, $0.000007790

Total Market Capitalization: $1.18T 
Shiba Inu Market Capitalization: $6.24B
Shiba Inu Volume: $0.27B
Market Rank: #14

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