Shiba Inu's Layer 2 network Shibarium experienced a 1451% surge in daily trading volume within four days, reaching 10,940 transactions. Although the total transaction volume on the network exceeds 1.2 billion, this spike is attributed to technical upgrades such as server migration and chain reindexing, rather than organic user activity. Meanwhile, amid a sluggish overall market, SHIB's price is consolidating around $0.00005819.

SHIB-0,47%

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MoneyDoesNotEnterTheDoorOf

· 7h ago

I checked the market this morning. BTC is now at 66,344. It dropped from 69,086 yesterday—this is real selling, not just a fake-out to scare people. The bulls have no strength left; they’re just being pressed down and rubbed out directly.

As for this rebound today, you could call it a bounce, but really it’s just a sluggish grind upward, like someone who hasn’t eaten all day. I’ve seen this kind of pattern too many times—it's a typical weak recovery after a decline, not a major shakeout by the big players. There’s no way they’d shake out the weak and then immediately push back up.

So the conclusion is simple: right now, the bears are in control. Don’t listen to those calling for a bottom—if you want to buy, go ahead.

Let me talk about the levels. The range from 66,850 to 67,920 is a hurdle; chances are it’ll get hammered down if it reaches there. The area between 65,600 and 65,900 is a temporary breather—if it breaks below that, don’t hesitate, just look further down.

My own plan for trading is: if it rebounds to 67,300–67,900, I’ll take a small short position, with a stop loss at 68,300. First target is 66,200–65,800. If it really breaks below 65,600, I’ll follow the trend and look toward 64,600–64,100. Keep your position light—there’s no need to get overly aggressive at this level.

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