SHIB Plunges 7.4% in One Week, but Market Sentiment Remains Cautiously Optimistic
Image Credit: coindesk- Shiba Inu (SHIB) experienced a 7.4% decline, testing a critical support level at $0.0000127 after significant selloffs in early May.
- Despite volatility, institutional interest is growing, with 109 new millionaire SHIB wallets added in April 2025, totaling 860 millionaire addresses.
- Futures open interest nearly doubled in April, indicating cautiously optimistic market sentiment amid ongoing development of Shibarium, SHIB’s Layer-2 blockchain.
- Technical analysis shows a pattern of lower highs and lows, but recent price action suggests potential stabilization and a possible recovery if support levels hold.
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