Shiba Inu price experienced a steep correction during the August 4 market crash. Despite a recovery attempt, SHIB struggles to reclaim its previous highs amid market insecurity. On Wednesday, SHIB price dropped by 2.5%, but on-chain metrics indicate a potential bullish storm. The Shiba Inu chart shows signs of a double bottom formation, signaling a potential 40% rally.
The analysis suggests that SHIB may soon experience an upward trend. The on-chain metrics are crucial in predicting this market movement. As the market remains fearful, investors are urged to watch for these key indicators.
