With hardly any discernible movement in price action or on-chain activity, the Shiba Inu (SHIB) market has entered a period of stagnation. Although SHIB has stabilized following a sharp decline, it seems stuck in a stalemate, with neither bulls nor bears willing to take charge.
Currently, SHIB is trading close to $0.0000109, just above a crucial local support level at $0.0000095. This region has repeatedly held, suggesting that a bottom formation may be developing. However, volume and volatility remain very low, signaling little momentum on either side.
The RSI indicator further reflects this lack of activity, maintaining a flat position in the 37-40 range. While this setup could potentially lead to a recovery if buying pressure resurfaces, the current inactivity reduces the likelihood of such a move in the near future.
On-chain data supports this market paralysis. According to CryptoQuant, exchange metrics such as Netflow Inflow and Outflow have shown minimal changes over the past day. The Exchange Reserve has only slightly increased by +0.13%, indicating that coins are neither moving to nor from wallets but are instead sitting idly on exchanges.
Netflow remains essentially neutral at -0.34%, suggesting no significant buying or selling is occurring. In short, investors are not actively participating. There have been no notable whale accumulations, transfers, or liquidations.
This absence of activity indicates that market participants may be waiting for technical confirmation of a breakout or a macro catalyst before making decisive moves. Until then, the Shiba Inu market remains in a state of neutrality.
https://u.today/shiba-inu-shib-shows-0-almost-in-everything-did-network-stop
