**Summary**
– SHIB has dropped 13% over two weeks amid negative sentiment on Telegram and reduced network activity.
– However, increased exchange outflows suggest a possible price rebound.
**Bears in Control?**
The meme coin has struggled in the past two weeks, with its price falling by 13% according to CoinGecko. Even after some recovery from yesterday’s local peak, it remains down. SHIB’s unstable condition is linked to four bearish indicators, hinting at a potential further decline. The first is the decreasing Net Network Growth, a momentum signal reflecting the blockchain’s true growth, which has dropped 0.19% daily according to IntoTheBlock. Telegram sentiment is also negative, with 45% of SHIB-related messages being unfavorable, only 5% positive, and 48% neutral. This may influence buying and selling decisions. Another bearish factor is the significant drop in large transaction volumes, with transactions over $100,000 decreasing 35% daily to around $45 million. Lastly, Shiba Inu’s layer-2 scaling solution, Shibarium, has recently stalled in progress, with declining daily transactions and new contracts.
**Something for the Bulls, too**
Some indicators suggest SHIB’s price might rise soon. For instance, SHIB exchange netflow has been negative recently, with outflows surpassing inflows, indicating a shift towards self-custody methods and reduced immediate selling pressure. Additionally, crypto enthusiasts foresee a positive future for SHIB. Yoddha, for example, mentioned a specific triangular price pattern that could signal a potential rally.
**Twitter:** Despite recent challenges, SHIB might rebound with increased exchange outflows and positive speculation on future rallies. #SHIB
