Top meme coin Shiba Inu (SHIB) has failed to capitalize on the recent upswing in the meme coin market. While other meme-based assets rallied amid the broader market’s upward momentum, SHIB has largely trended sideways, displaying a lackluster performance.
With investor enthusiasm cooling marketwide and on-chain indicators flashing red, the token appears increasingly vulnerable to new lows in the coming sessions.
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SHIB Flatlines as Investors Lose Conviction
SHIB has traded flat over the past week, defying the broader market rally. Readings from its one-day chart show that the meme token has struggled to establish momentum in any clear direction.
Currently, it hovers within a narrow range, facing resistance at $0.00001301, while finding support at $0.00001155.
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SHIB Horizontal Channel. Source: TradingViewOn-chain data from Glassnode confirms the growing skepticism among investors. According to the analytics platform, SHIB’s Holder Retention Rate has steadily declined over the past week and now sits at a 53-day low of 96.16%.
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SHIB Holder Retention Rate. Source: GlassnodeThe Holder Retention Rate tracks the percentage of addresses that maintain a balance of SHIB across consecutive 30-day periods. It shows how many investors continue to hold onto their coins month after month.
When this metric falls, it signals a weakening belief in future price appreciation. For SHIB, this means many traders are losing patience amid the seemingly extensive sideways movement and are selling their holdings to prevent further losses.
If this continues, it heightens the risk of a break below the narrow range.
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Money Flows Out, Bears In
On the daily chart, SHIB’s Chaikin Money Flow (CMF) indicator remains below the zero line, reflecting increased sell pressure and capital outflows from the token.
At press time, this key momentum indicator, which tracks how liquidity enters and exits an asset, is at -0.10.
SHIB CMF. Source: TradingViewA negative CMF reading like this indicates that sellers dominate the market, a trend commonly associated with weakening price momentum and potential breakdowns in support levels.
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Shiba Inu Stuck Between Selloffs and Hope
As more investors offload their holdings, it exerts additional sell pressure, worsening the downward volatility in the SHIB market.
If this trend persists, SHIB could find it increasingly difficult to hold its support at $0.0000115 and plummet to a four-month low of $0.00000986.
SHIB Price Analysis. Source: TradingViewHowever, a resurgence in new demand for the meme coin could drive it above the resistance at $0.00001301 and toward $0.00001429.
Source: https://beincrypto.com/shib-price-outlook-four-month-low/
