Is Shiba Inu Setting a Trap? What the On-Chain Data Says About SHIB’s Next Move

Jakarta, Pintu News – The price of Shiba Inu (SHIB) is approaching a major resistance level, trading at $0.0000060 on April 16, 2026, which will determine the direction of the next move.

On-chain data metrics indicate a bearish outlook, as activity spikes from previouslydormant wallets along with spikes in Network Realized Profit/Loss (NPL) and trade volume indicators.

Traders are advised to remain cautious as the downside risks seem to outweigh the short-term recovery potential.

On-chain Data Cues Caution

Santiment data is showing signs of concern for Shiba Inu. The chart below shows that Santiment’s Network Realized Profit/Loss (NPL) indicator calculates the daily network-level Return On Investment (ROI) based on the coin’s on-chain transaction volume, which serves to measuremarket pain.

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These metrics showed a sharp decline on Tuesday, indicating thatholders, on average, are realizing losses. During the same period, Santiment’s Age Consumed index and transaction volume also showed an upward spike, suggesting that dormant tokens (tokens stored in wallets and inactive for a long time) are now starting to move.

Historically, spikes in dormant wallet activity and transaction volume, combined with negative spikes in NPL indicators, often trigger short price rallies that are then followed by massive sell-offs(bull traps) in Shiba Inu.

A similar pattern was observed in early December, when prices initially experienced a slight increase, but were followed by a sharp correction in SHIB prices. This indicates distribution rather than accumulation.

Summary data from CryptoQuant also hints at a mild bearish outlook for SHIB. The chart below shows that the presence of large orders in thefutures markets provides a slight signal of optimism.

However, the heated market conditions andsell-side dominance, with most other metrics showing neutral conditions, hint at a potential downward move.

Shiba Inu Price Forecast: SHIB Approaches Key Resistance Zone

Shiba Inu price has been trading sideways for over a month between $0.0000056 and $0.0000063, following a massive downtrend. On Thursday, SHIB was trading slightly higher above its 50-day Exponential Moving Average (EMA) at $0.0000060.

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The occurrence of a breakout (upward break) or breakdown (downward break) will determine the direction of SHIB’s next move; however, traders should remain vigilant, as the main trend for this meme coin is still bearish, and any short-term recovery could face a correction.

The Relative Strength Index (RSI) on the daily chart stands at 55, just above the neutral level of 50, indicating that the bearish momentum is fading. The Moving Average Convergence Divergence (MACD) lines appear close together and wrapped around each other, signalingindecision among traders.

The nearest resistance for SHIB could be seen around the 50-day EMA, followed by the upper limit of consolidation, and then the 100-day EMA near $0.0000065. Aclose above the 100-day EMA could extend the recovery towards weekly resistance at $0.0000068.

On the downside, the nearest support is around the lower limit of consolidation at $0.0000056, where a breakdown of this level could trigger a deeper correction towards horizontal support near $0.0000050.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• FX Street. Shiba Inu Price Forecast: On-chain data raises bull trap risks. Accessed on April 17, 2026