Shiba Inu On-Chain Activity Rises 42% Amid Ongoing Price Struggle

Shiba Inu's on-chain activity has seen a significant increase of 42% in recent days, indicating heightened engagement among SHIB holders. However, this rise in network activity does not necessarily translate to price confirmation of a recovery trend.

The token's price remains below key resistance levels, with trading volume still lagging behind previous rallies. The $0.0000056-$0.0000057 area is a crucial resistance zone, and a break above it would provide stronger technical confirmation of increased market demand.

SHIB's daily Relative Strength Index (RSI) remains close to the neutral 50 level, indicating limited momentum in favor of a bullish trend. The token's price action has not yet matched the increase in on-chain activity, suggesting that more evidence is needed to confirm a stronger recovery.