Shiba Inu (SHIB) experienced a price drop in recent days, falling to $0.0000122. However, the Shiba Inu network is showing signs of growth with Shibarium processing over 1 billion transactions since its launch in August 2023. This activity suggests continued user engagement despite the token’s price performance. Despite the price decline, trading volume increased substantially, jumping by 39.78%, indicating heightened investor activity. Trading volume reached $261 million daily, but the token slightly depreciated by 0.20% over the same period. While SHIB’s market capitalization stands at $7.47 billion and the circulating supply is currently around 589 trillion SHIB, the asset has seen a slight recovery in price, stabilizing near $0.00001267. This stable rebound was observed after briefly dipping below $0.0000124 before recovering. A volume-to-market cap ratio of 3.48% suggests active trading despite limited price gains. The SHIB funding rates also showed a pattern of positive fluctuations from early January to mid-February, indicating improving bullish sentiment. However, the trend turned negative by late February and March. Despite this fluctuation, SHIB’s spot price remained relatively stable, suggesting that traders are more interested in short-term trades rather than long-term investment strategies. Technical indicators also indicate a potential consolidation phase. The RSI is currently at 50.45, while the MACD has shown a bullish crossover with its signal line, suggesting some promising signals for SHIB’s future price trajectory.