Technical analysis by BeInCrypto about Symbol SHIB on 8/1/2025

At present, SHIBUSDT price is sitting at $0.00001210, down 21% over the last 10 days . The drop in Shiba Inu's price can be traced to a sharp decline in the number of new addresses interacting with the token. In the last 10 days, the number of new addresses has decreased by nearly 40% . This sudden exit of new investors indicates waning confidence in SHIBUSDT price potential, particularly after an extended rally earlier in the year. If this trend continues, SHIBUSDT could lose the critical support level of $0.00001188, pushing the price down to $0.00001141 or potentially lower. However, if SHIB manages to hold onto its $0.00001188 support level, there is a possibility of recovery. A bounce from this level could push SHIBUSDT price up to $0.00001317 . Securing this level as support would create a bullish scenario, invalidating the bearish thesis and offering hope for further price growth in the near future.