Recently, the fluctuations in the crypto assets market have once again attracted the attention of investors. Among them, Shiba Inu (SHIB) has stood out with a continuous falling trend. Data shows that SHIB has accumulated a drop of over 17% in the past month, with an average daily fall of about 0.6%.

Currently, the trading price of SHIB has dropped to around 0.00001247, in line with the overall trend of other meme coins. However, a deeper analysis of charts and on-chain data reveals that the current market presents a complex situation with both risks and opportunities.

It is worth noting that the number of daily active addresses on the SHIB network continues to decline, currently at only 3,148, close to the monthly low of 3,130. This metric is often regarded as a barometer of trading participation. Historical data indicates that an increase in active addresses often precedes a price rise. For instance, at the beginning of August, SHIB experienced a surge in active addresses, followed by a rapid increase in price. Therefore, the current number of active addresses being close to historical lows suggests that if there is no new trading vitality injected, the price may continue to face downward pressure.

From a technical analysis perspective, concerning signals have appeared on the daily chart. The 20-day Exponential Moving Average (EMA) has crossed below the 50-day EMA, forming a typical bearish crossover. This technical pattern often indicates that a larger pullback may be imminent.

The latest market data shows that the SHIB price has fallen below the key support level of 0.00001259 and is currently hovering around 0.0000123. This further exacerbates market concerns about the short-term outlook for SHIB.

Despite the current situation being less than optimistic, the high Fluctuation of the Crypto Assets market also means that conditions can change rapidly. Investors need to closely follow market dynamics, especially changes in network activity and breakthroughs at key technical levels, to seize potential investment opportunities. At the same time, it is important to remember the high-risk characteristics of Crypto Assets investment and to implement effective risk management.