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Does the Shiba Inu (SHIB) prepare for a comeback?

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The famous dog-headed token, Shiba Inu , has relatively solidified its position at the bottom in recent months. For some investors this is a big disappointment, but for others it could herald a new rally, taking it back to all-time highs.

Can SHIB reach an all-time high again?

 

The Average Directional Index (ADX) of the Shiba Inu is at its lowest level since October 2021. This was noticed after the token started its rally from 1035.96% before ending its run in the red.

What has always worried investors about the altcoin is that it is not as volatile as its counterparts. Over the past few years, the crypto has basically built up a bullish position. However, it seems that the pressure is coming down. Result: the SHIB has lost its vigor and falls like a failed soufflé.

No rally in sight for the SHIB

 

Despite the expectations of some investors, it seems that the Shiba Inu will not start a 1035% rally this time. The crypto could nevertheless take advantage of this thinning phase to recover some of the losses it has recorded in recent weeks. Moreover, at the time of writing these lines, the SHIB has seen an increase of 6.19%.

What is certain is that the SHIB enjoys the unfailing support of its community, which has also developed a good network in the cryptosphere. Recall that the SHIB Metaverse public sale recently attracted several investors. The latter were also relatively interested in the Shiba Inu ecosystem and many wanted to know more about future projects.

SHIB currently has 1.07 million investors

 

If since last month, the SHIB is in the red, a rise at this stage would be miraculous for investors. It should be noted that more than 40,000 SHIB holders withdrew last month. This means that currently, the Shiba Inu has only 1.07 million investors.

Moreover, the current situation does not leave too much hope. If Bitcoin were to fall further, then it would drag SHIB down in its wake. And if BTC goes up, then so should it. In the event that the downtrend strengthens then the SHIB would risk losing some more of its investors.

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